ATO releases latest business benchmarks
The ATO says that the 2013/14 data is now available for the ‘Small business benchmarks’.
The ATO uses these benchmarks as a guide on industry trends to identify businesses that may be avoiding their tax obligations by not reporting some or all of their income.
The ATO says that using the Small business benchmarks can assist with building taxpayers’ businesses.
They say that taxpayers should compare their details against similar businesses in their industry and see how competitive they are or where improvements can be made
We can help you find the benchmarks for your industry (if any).