SBR enabled business/payroll software benefits your business by significantly reducing the time spent collating information, filling in forms and submitting them to government.
We know that savings in time means savings in money.
SBR increases your efficiency as most of the information required for reporting is already captured in your software. This is the concept of 'capturing once'!
Choose your channel
Government is committed to reducing red tape and making reporting easier for business. As we continue to enhance or remove existing channels you have more choice about the channels you can use.
Your reporting can be made easier depending on your choice of channel. For example, two important reporting obligations are pay as you go payment (PAYG) summaries and tax file number (TFN) declarations.
Channels available are; SBR-enabled business/payroll software, the ATO business portal or paper forms.
Using SBR, the process is streamlined and the number of steps minimal. Saving several minutes for each report makes for substantial gains in productivity over time.
There are other reporting obligations already SBR-enabled for example the business activity statement (BAS), the taxable payments annual report (TPAR), various State Government payroll reports and many more.
As SBR is applied across all business to government reporting obligations the savings for business will be significant.