Timeline
August 2006: Announcement by the then Treasurer — establishment of a committee of Australian and state government officials to examine the case for the introduction of SBR.
December 2006: Australian Government announcement — SBR to develop and business case and implementation plan.
August 2007: Completion of a business case and implementation plan, official Government approval and commencement of the SBR Program on 30 August 2007.
March 2008: Council of Australian Governments (COAG) incorporates SBR in ambitious new regulation reform agenda.
Release of the first cycle of the SBR taxonomy — the common reporting language based on international standards and best practice to support the SBR forms in scope.
July 2008: Signing of contracts to design SBR’s core infrastructure services and the single sign-on solution for SBR, later termed AUSkey.
COAG announces detailed SBR implementation plan and approach to consulting with the business community.
September 2008: Release of SBR cycle 2 taxonomy, supporting 20 forms in scope.
November 2008: Inclusion of SBR in COAG’s National Partnership Agreement to deliver a seamless national economy.
February 2009: Start of SBR Tax file number declaration pilot involving six software developers in a limited test of SBR’s end-to-end capability.
March 2009: Release of SBR cycle 3 taxonomy, providing for the first time a harmonised list of definitions for all forms in SBR’s scope.
May 2009: SBR conference Revolutionising Business Reporting demonstrated what Australian business can expect from SBR, as well as exploring global financial reporting trends
August 2009: Australia and New Zealand Memorandum of Understanding to ensure alignment between the SBR Australia and SBR New Zealand taxonomies.
September 2009: Software developers commence build and implementation using the SBR Taxonomy.
October 2009: Software developers start SBR software testing.
April 2010: SBR financial reporting solution components ready for production.
May 2010: Businesses and their reporting professionals able to register online for AUSkey - the SBR single secure sign-on credential in preparation for the launch of reporting to government via SBR in July 2010.
July 2010: Start of reporting to government via SBR. Software developers progressively SBR-enabling their accounting/payroll software. Take-up by business escalates over the subsequent three or four years.
Beyond 2010: Whilst the initial focus for SBR is on financial reporting, SBR could potentially be applied to other areas of reporting.
Last updated 6 July 2010
