SBR is an enabling technology that can be re-used in many ways saving the community and government agencies time and money.
SBR is built into business/accounting software and allows businesses to significantly reduce the time spent collating information, filling in forms and submitting reports to government.
SBR uses the business transactions captured in business software to prepare reports. This is the concept of 'capturing once' and means business no longer has to re-enter information for multiple reporting obligations.
SBR provides a range of benefits depending of the type of user you are:
- Business
- Intermediaries- including payroll specialists
- Government agencies
- Digital service providers
For further information, please contact us.
SBR Benefits to Business
SBR collects the right information, for the right government report, directly from your business records, saving you time. When the information is sent to Government, it also gives you certainty that you are reporting correctly. Other benefits include:
- Increased productivity - Less time spent on administrative activities (that is, filling in forms, re-entering data) gives you more time to provide advice to clients, and quality time to focus on building your business.
- Reduced cost - Investing in business software is the only cost. SBR is free because it's built into the software.
- Seamless record keeping - Your records and reports are securely stored and accessible in your software.
- Automatically pre-filled reports - SBR extracts information from your accounting and payroll records and prepares reports directly from your software.
- Review reports before submitting - Allows you to check reports for errors and omissions.
- Real- time validation and confirmation - You will receive confirmation that reporting obligations have been completed and lodged.
- Updated reporting obligations - Changes in reporting legislation are updated in the underlying SBR code.
- Share information - You can work with your advisor in real time to monitor your business' progress.
SBR Benefits to Intermediaries (including Payroll specialists)
SBR-enabled software provides increased functionality and improves the interaction between you and your clients using a single online channel.
- Increased productivity - Less time spent on administrative activities (that is, filling in forms, re-entering data) gives you more time to provide advice to clients, and quality time to focus on building your business.
For Payroll specialists, preparing and submit PAYG summaries and TFN declarations are quicker than using the ATO Business Portal or paper forms. - Reduction of data entry - Information is gathered directly from your clients' business records.
- Share information - You can be part of your clients' business online and in real time to help them to understand how their business is tracking.
- Greater certainty - If you have a subscription or cloud based package, changes to reporting legislation are updated through your software provider.
- Real time validation and confirmation - You will receive confirmation that reporting obligations have been completed and lodged.
- Security - Using a machine credential (installed via Relationship Authorisation Manager) you can be assured of secure transmission.
SBR Benefits to Government agencies
The ability of SBR standards to be applied to inter-governmental communication allows for 'tell us once, share with many' models of interaction. This approach significantly reduces the burden on business, automating the distribution of the same information to other relevant agencies. Other benefits include:
- Reduced costs - The infrastructure developed for SBR - including systems, processes and standards - can be re-used across other agencies, reports and forms reducing the overall cost to government.
- Increased electronic reporting - An increase in electronic reporting results in a reduction in paper lodgements meaning agencies can realise savings associated with scanning, storage and re-keying of information.
- Efficient revenue collection and regulatory monitoring - An overall reduction in non-compliance and an increase in the quality of data results in more efficient revenue collection and monitoring.
- Increased efficiency of business to Government interaction - The automation of preparation and lodgement of reports directly from business software improves the efficiency and accuracy of business to government reporting.
- The transition to SBR - Depending on the agency gateway structure the transition to SBR may not be a complicated process. All agencies have a gateway and as long as it can accept SBR messages the transition can be relatively straight forward.
SBR Benefits to Digital service providers
The implementation of SBR within financial, accounting and payroll software packages has several benefits for software developers, including:
- Compliance with Government standards - When registered with SBR, you will receive a Software Developer’s Kit that provides information for you to ensure your products are compliant with government standards.
- No more interpreting - Government legislation to incorporate into software - The SBR Taxonomy contains a harmonised set of definitions of all items to be reported to SBR-participating agencies.
- Competitive market positioning - Maintaining or improving competitive market positioning by implementing the latest technology.
- Increased client functionality and service offerings - SBR technology provides the opportunity to enhance and increase the functionality and services offered to clients.
- Support - Support from SBR to help develop compliant software more easily.
- Security - Using machine credentials you can be assured of secure transmission.