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ATOs small business benchmarks

The ATO small business benchmark guides are designed to help small businesses compare performance with similar companies in the same industry. These guides have been updated to include data from the 2016-2017 financial year.

Within this system, there are two benchmarks businesses can use. Performance benchmarks apply to all industries and businesses. This area consists of the financial ranges so you can make comparisons and improvements to your business performance. Ranges you can look into are income tax, which is information provided by businesses on their tax returns, and activity statements which are provided using financial year activity statements. Input benchmarks only apply to tradespeople working on projects and purchasing their own materials. Within this benchmark, you can receive an expected range of income based on labour and materials used in a project. This is designed to help estimate turnover and ensure records accurately reflect income.

The small business benchmark system is also designed to aid the ATO in identifying businesses that may be avoiding tax obligations by not reporting elements of their income. The information reported by a business is compared to key elements of the benchmark for their industry, ensuring all activity is in line with the regular work practices.

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Accounting
services

In the constantly changing business environment, you can rely on our business services team to be expert, up-to-date and ready at hand to assist you with your business matters. Whether your concerns are taxation, accounting, business planning, cashflow and budgeting, or business valuation, rest assured that our staff are available to advise you.

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There is no such thing as a ‘one size fits all’ audit. We use the latest technology to provide individual assessments, producing comprehensive reports in which your stakeholders can have the utmost confidence. We are also happy to offer due diligence systems reviews and financial consulting advice.

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secretarial

Communication and effective administration are essential elements of a successful organisation. Regardless of the size of your business, we are ready to support you with a team of highly qualified secretarial and support staff.

taxation
services

We regularly deal with a broad range of personal and corporate taxation issues and make a point of understanding the individual needs of every client. Whether you need advice on company tax, personal tax effectiveness or indirect taxation including payroll tax and GST, our team will identify the best solutions for you.

self managed
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The way your superannuation is managed now will have a significant impact on the choices you have in retirement. Self-managed super funds are perfect for those looking for greater control of their savings and are one of the best ways to ensure that you will have sufficient funds for retirement.

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services

In addition to our normal services, we have developed specialist knowledge and expertise in the following sectors:

Christian organisations

Audit of incorporated associations.