The Federal Government has announced that in the second half of 2012 businesses have been utilising the new Standard Business Reporting (SBR) system at a much higher rate than in the same period last year.
More than 100,000 lodgements have been received through the new Standard Business Reporting (SBR) system since the beginning of July, about nine times the number of lodgements for the same period last year.
Under the SBR, Australian businesses are able to use SBR-enabled software to prepare and lodge key government forms directly from their software to agencies participating in the SBR program.
Assistant Treasurer David Bradbury says the SBR makes it easier for business owners to meet their reporting obligations.
“Under the SBR system, businesses can use a single secure log on (AUSkey) when sending reports to agencies and business to government reporting requirements are streamlined,” he says. “Standard Business Reporting helps to drive productivity by removing unnecessary or duplicated data in business reporting obligations.”
“Australian businesses can use SBR-enabled software to prepare and lodge key government forms directly from their software to government agencies using a single secure log on called an AUSkey,” Minister for Small Business Brendan O’Connor adds. “There has been a steady increase in the numbers of AUSkeys with a 49 per cent increase from 521,000 active AUSkeys in September 2011 to about 782,000.
“The number of AUSkey authentications performed has grown significantly in the past year from 2.8 million per month to a peak of nearly 4.4 million in August 2012.”
For more info, visit the SBR website.
Follow @mybusinessau on Twitter for breaking stories throughout the day.
Find out why you should join the SME Association of Australia.