The Tax Office has developed Small Business Benchmarks which are a set of financial ratios developed from information provided to them by businesses on their tax returns and activity statements.
The Tax Office uses these benchmarks to identify businesses that may not be reporting some or all of their income and avoiding tax obligations. The Tax Office Benchmarks are published for businesses with different turnover ranges across more than 100 industries.
You can get access to the benchmarks by clicking the link below. Use the benchmarks to compare your business performance against similar businesses in your industry.
Businesses reporting outside the benchmarks may attract the attention of the Tax Office and possibly trigger audit investigation. If you find you are outside the benchmarks for your businesses industry, check that you have correctly recorded and reported income and deductions for your business.
Ensure that you review your record-keeping practices and that they meet the legal requirements.
For more information visit the ATO Benchmarks web page.