Current reporting requirements impose a significant burden on business - a burden that the Australian Government is committed to reducing.

SBR is a multi-agency initiative that will simplify business-to-government reporting by:

2         making forms easier to understand

2         using accounting/record keeping software to automatically pre-fill government forms and

2         introducing a single secure way to interact on-line with participating agencies.

As a result, businesses and their intermediaries will have a faster, more efficient reporting mechanism. Key benefits to business will include:

2         reduced time and effort spent preparing reports for government by businesses, accountants and bookkeepers

2         reduced time and effort spent filing reports for government and

2         reduced time and effort spent dealing with errors.

SBR is expected to save Australian businesses $795 million per year on an ongoing basis, freeing up resources for more profitable activities. In addition, accountants, bookkeepers, tax professionals and software developers will have access to a powerful system for improving service delivery and productivity.