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DAMA SBR Update. Paul Madden Program Director Standard Business Reporting June 2010. SBR Vision. Reduction in the reporting burden for business A single language for business to report to government Reporting to government becomes a by-product of natural business systems/process

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Dama sbr update l.jpg

DAMASBR Update

Paul MaddenProgram DirectorStandard Business Reporting

June 2010


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SBR Vision

  • Reduction in the reporting burden for business

  • A single language for business to report to government

  • Reporting to government becomes a by-product of natural business systems/process

    • Government reports can be pre-filled from the data in accounting/payroll/business management software

    • Business’s own systems become their portal for reporting to government

    • Businesses will have one credential to report to all agencies


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SBR Origin

  • Origin of SBR

    • Rethinking Regulation, The Report of the Taskforce on Reducing Regulatory Burdens on Business (the Banks Report), was released in April 2006

    • The report found that regulatory compliance costs Australian business tens of millions of dollars each year and diverted time and resources from core business activities

  • COAG endorsement

    • In March 2008, COAG included SBR as a priority in its regulation reform agenda


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What SBR is not

  • SBR is NOT an additional reporting requirement

  • SBR is NOT another government portal

  • SBR is NOT a centralised database

  • SBR is NOT going to change regulation

  • SBR is NOT mandatory


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Who is implementing SBR?

  • Government agencies include:

    • Treasury (lead)

    • Australian Prudential Regulation Authority

    • Australian Securities & Investments Commission

    • Australian Taxation Office

    • State and territory government revenue offices

    • Australian Bureau of Statistics (Taxonomy only)

  • Software developers and suppliers

  • Business & intermediaries


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When is SBR being implemented?

  • AUSkey implemented from 17 May 2010

  • Supported by software systems for use by accountants and business from July 2010

  • Available for Pilot processes in May 2010


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Key components

  • Taxonomy

  • Core services

  • AUSkey


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Taxonomy

  • Collective set of the reporting definitions across the agencies involved

  • Expressed using XBRL

  • allows consistent mapping from elements of data in business software

  • Requires sufficient metadata to allow appropriate classification and harmonisation

  • Used by SBR as the standard for data being exchanged between software and the agencies


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Taxonomy Features

  • Aligned to “natural business data”

  • Information is defined once – reused many times

  • Data elements are re-used across various forms

  • Data elements are grouped where possible

  • Industry standards

  • Harmonisation/standardisation

  • Naming conventions


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What is harmonisation

  • Harmonisation of reporting terms across government

  • First time record of “facts” shared between business and government

  • Basis of possible future regulatory change

  • Another benchmark of regulatory burden

  • Of the 80+ forms in initial scope, 9648 different data fields are requested and harmonisation has reduced these data items down to 2838 unique fields - a 71% reduction


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Define the concept once…

Address

Wages & Salaries

… re-use on many reports

SBR XBRL – Definition & Reporting Taxonomy

Definition Taxonomy

Information

Classification B

Information

Classification A

A.1

B.1

A.2

B.2

Reporting Taxonomies

Agency X

Agency Y

Agency …

Report X.1

Report Y.1

Report X.2

Report Y.2


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Core Services

  • Core Services is the electronic service that allows a business or intermediary to send a report to the relevant government agency directly from their accounting system

  • Similar to an electronic postal system, core services will:

    • enable businesses and their intermediaries to securely report to government directly from their SBR-enabled accounting software

    • Provide an immediate receipt, acknowledgement or error message

  • Needs a software developer to implement SBR to send messages through SBR


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GOVERNMENT

BUSINESS

Core Services

Agencies

DESIGN INTEGRATION ASSURANCE

IT OPERATIONAL MANAGEMENT

Supports

UPDATE AND USE

IDENTITY

REGISTRY

COMPLIANCE

TAXONOMY

SERVICE

MANAGEMENT

ASSURANCE

DEVELOPMENT

BCOA

TAXON

OMY

Business

COMPUTER INSTALLED WITH “SBR

COMPATIBLE” ACCOUNTING SOFTWARE

ATO

PACKAGE

Report

n

Response

o

i

t

N

u

l

O

o

I

S

T

A

y

Report

t

R

i

SERVICE DELIVERY PLATFORM

ASIC

r

T

u

S

c

Response

E

e

H

S

BCOA

C

R

TAXON

R

B

O

OMY

S

Intermediary

Report

SRO

.

Reponses

COMPUTER INSTALLED WITH “SBR

COMPATIBLE” ACCOUNTING SOFTWARE

PACKAGE

Core Services


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AUSkey

  • Enables businesses and reporting professionals to have a single credential to authenticate their reports to the agencies in scope

  • Can be used to access the ATO on-line services (Tax Agent Portal etc)

  • Replaces the current registration and issuing processes for ATO digital certificates


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How it all works

  • For recurring reports like BAS, TFN declarations, PAYG, business software will:

    • Provide pre-filling of reporting information (form filling)

    • Allow editing & further data entry to complete the form

    • Let you send the report directly from your accounting software to the relevant agency

    • Provide a receipt, confirming the report was delivered

  • Forms such as Company Tax Return will

    • have some pre-filling from the accounting software, but will rely on further completion of more labels – mainly completed by accountants


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How it all works

  • The SBR taxonomy will enable creation of XBRL IFRS compliant financial statement

  • Financial Statements for large businesses will:

    • rely on mapping of underlying financial data to the SBR taxonomy to allow the aggregation of inputs required in the financial statement – mainly completed by the business and accountants

    • Software can allow translation as either PDF or XBRL documents

    • Send securely online from accounting software to ASIC & get confirmation of lodgement

  • Taxonomy mapping processes can replace current aggregation mappings



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Lodging a business activity statement

  • This is a simple demonstration to show how business activity statements could be sent to the ATO using SBR enabled software.

  • The software is fictitious and portrayed only to help people understand the concept.

  • Lets see …



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At the Welcome screen, John logs in and opens a secure connection to the Tax Office. The connection will remain until John finishes his report.


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John is presented with a list of Activity statements. He selects the one he wants to report and clicks ‘Next’.


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John has reached the BAS Autofill page. He checks his information and clicks ‘Next’ to send his information to the Tax Office for validation.



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John has reached the end of the preparation process and is ready to lodge. He signs the declaration and clicks ‘Lodge’ to finish reporting.


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John has now finished submitting his activity statement to the Tax Office. He saves his report for his files and exits the program.


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SBR Contacts the Tax Office. He saves his report for his files and exits the program.

[email protected]

 02 6263 3900

www.sbr.gov.au

  • The Treasury39 Brisbane Ave

    Barton, Canberra ACT 2612


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