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Regulatory Roundup – April

Updated data applied to small business benchmarks

The ATO has updated its small business benchmarks with information from key financial ratios drawn from information provided by businesses through activity statements and tax returns. The most recent complete data (for the 2014–15 financial year) allows businesses and their tax agents to use the benchmarks to compare business performance against similar business entities.

Benchmarks are updated on an annual basis, which the ATO says will ensure the benchmarks reflect an accurate performance of businesses over time. You can find the small business benchmarks by business type here (businesses listed A-Z), or by industry here. […]