Xero and SBR
Xero prides itself on being the world’s easiest accounting system, and what could be easier than filing your BAS return online with the click of a button? Nothing! And we agree. That’s why we’re working closely with the Australian Taxation Office and the Standard Business Reporting (SBR) facility being launched in July 2010.
The SBR enables companies like Xero to lodge your BAS return (and other standard reports) on your behalf – no more paper forms, no duplicated data entry into other systems. You get to stay in control while Xero does all the heavy lifting for you.
And the timing is great – at Xero we’re enhancing our own reporting framework to support building Annual (Final) Reports, and making Xero SBR-enabled is a natural extension to this. Expect to see the first SBR-enabled reports later in 2010.
Don’t worry New Zealand – we haven’t forgotten about you. The NZ Inland Revenue Department also has an SBR programme that is aligning itself with Australia. You’ll get a “Lodge Me!” button for your GST returns too. And in the UK we’re looking at online VAT so you won’t miss out either!