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In a media release issued on 9 August 2009, the Assistant Treasurer, Senator Nick Sherry, announced an agreement between the Australian and New Zealand Governments to continue cutting business reporting red tape. The initiative, which could potentially save businesses and taxpayers on both sides of the Tasman millions of dollars each year, will ensure greater cooperation on a key e-government initiative to standardise reporting processes for business.

The Memorandum of Understanding on Standard Business Reporting will, among other things, standardise the definitions of the information businesses report to government, including standardising the terminology used in forms to pre-fill reports with data from businesses accounting systems and providing a single secure sign-on for businesses to submit forms electronically to the right government agencies using their accounting system software.

"In Australia, more than 50 reporting forms are under review - a significant step forward in cutting red-tape and freeing up business to do what it should be doing," said the Assistant Treasurer.

For a copy of the Minister's media release, No 2009.025, 9 August 2009, go here


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