Following extensive community consultation, the Australian Taxation Office (ATO) has adopted international eCommerce standards for SuperStream. The Standard Business Reporting (SBR) program has also announced that it will replace its proprietary interface with the open standard ebMS 3.0/AS4 profile.

Making this move will make it easier for software developers to provide SBR-enabled software and encourage more businesses to take up electronic commerce.

The GBST SuperStream Gateway provides a fully compliant messaging hub that sends and receives ATO standards compliant documents to and from other SuperStream participants (Gateways, Funds and Employers) and is the main connectivity and management piece for message packaging, sending, receiving and storage. The GBST SuperStream Gateway is an ebMS message handler and ebMS message producer / consumer and complies with the AS4 Profile of the ebMS 3.0 specification.

 

The Australian SuperStream reform is designed to enhance the ‘back office’ of the superannuation system. Industry savings will allow benefits to flow to members and employers in the form of lower fees and charges and improved services. The Australian Government mandated the SuperStream initiative for the Superannuation industry. These initiatives are designed to make superannuation simpler for Australian people, and the industry easier to do business with. 

 

[..] The so-called Standard Business Reporting regime has long been touted by the Australian Federal Government as a means to reduce the reporting burden on business by allowing company financial reports and tax returns to be machine-readable, removing manual processes and reducing errors by companies and government agencies [..] The use of SBR is also now compulsory for transferring member data between superannuation funds under the Superstream reforms [..]