Accounting software provider Reckon has received approval from the Inland Revenue Department (IRD) New Zealand to store taxpayers’ business records offshore.
The permission, granted under section 22 (8)(b) of the Tax Administration Act (1994), allows Reckon to store records offshore for clients as a third party supplier.
As with all Reckon online accounting software products, this data will be stored in secure data centres in Australia.
This means that users of Reckon’s online accounting products in New Zealand can be confident their data is stored in Australia with the approval of the IRD and that it will be stored in accordance with Australian privacy laws.
“We’ve been working closely with the IRD for some time to make it possible for Reckon to store data offshore on behalf of our customers and clients," says Catie Cotcher, GM of Reckon New Zealand.
"We’ll now be communicating this change with our partners and customers so that they understand what their record keeping obligations are."