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Standard Business Reporting (SBR) brings ongoing relief to the businesses using the new electronic lodgment services via SBR enabled software. Recent estimates of the benefit to businesses exceed $500 million per year if SBR is adopted fully. ATO, ASIC and all States and Territories Revenue Offices participated in the SBR program development. Tax payers are encouraged to check with their software vendor for the SBR capability of their product.
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As an employee, when you are paid, so is Uncle Sam and the state government. If you are lucky enough to live in one of the few states that do not tax on income, then you are only paying the federal government. But for most of us, a portion of our pay is directed to federal and state income tax, or withholding tax.
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