Standard business reporting
Standard Business Reporting (SBR) is a government initiative aimed at reducing the reporting burden for business by removing duplication across multiple agencies and jurisdictions.
The agencies involved include Treasury, Australian Securities and Investments Commission, Australian Taxation Office, Australian Prudential Regulation Authority, Australian Bureau of Statistics and Offices of State Revenue.
SBR commenced on 1 July 2010 and simplifies financial reporting requirements by:
- Removing unnecessary and duplicated information
- Enabling automatic pre-filling of government forms through accounting/record-keeping software
- Enabling required information to be sent electronically to participating agencies with a single sign on.
For more information please visit the SBR website.
Refer to the articles below to stay up-to-date with the SBR initiative, or use the search filters to look-up historical information.
The Institute and Treasury have commissioned researchers to undertake a research study into the enablers and inhibitors that surround the voluntary adoption of SBR in Australia.
Published on 19 April 2013
iXBRL software identified as best means of reporting for listed companies.
Published on 20 March 2013
The Institute has lodged its submission to Treasury’s discussion paper canvassing options for the use of Standard Business Reporting (SBR) for the lodgement of financial reports with ASIC.
Published on 15 March 2013
Treasury is hosting roundtables to seek stakeholder input on its current consultation paper dealing with options to increase the use of Standard SBR for the lodgement of financial reports
Published on 8 February 2013
From Charter March 2013: Most businesses grapple with quarterly BAS statements; they fill them out manually and post them off to the ATO.
Published on 1 February 2013
The Federal Government is seeking feedback on a range of options relating to the use of SBR for the lodgment of financial reports with the ASIC.
Published on 7 December 2012