Together with financial software developers, Australian Taxation Office (ATO) is committed to ensuring the new SBR-enabled PLS is the primary lodgment channel for tax practitioners. In this regards, ATO has asked vendors of accounting and financial management and ERP software to create a gateway to enable direct submission of Standard Business Reporting (SBR2). The ATO stated that this is a further move to automate and streamline the tax system and both businesses and the State Government will benefit from lower costs and time efficiency savings.
SapphireOne has already incorporated the new ATO requirements regarding SBR2 and has been whitelisted by ATO in November 2017. The whitelisting process was carried out via several distinct steps which includes scrutinizing Organization and production details, testing primary elements and following onboarding strategy (e.g. SBR2 capacity and rollout plan). Correspondingly, SapphireOne has already started the process of implementing the SBR2 system into production system of the live SapphireOne data file.
