For many years the ATO has been developing industry benchmarks based upon information provided within tax returns. The ATO have become sufficiently confident in their data and since autumn 2009 have begun rolling the benchmarks out. In June 2009 the ATO had eight industry benchmarks. By June 2010 there were 58 benchmarks, and a quick check at the time of writing shows there are now 97 small business sectors covered by benchmarks. This means that if your industry isn't already covered it soon will be.
The benchmarks are flawed due to the breadth of industry groupings leading to inaccuracies of analysis.
There is a solution for business owners.
Our clients get access to our e-booklet on tax benchmarking.
Business Benchmarking
Do you ever wondered how your business performs against your peers and competitors? What is their average profitability, and how do you compare? Are you paying too much rent? Do you spend enough on advertising? Are your staffing costs too high?
These days business survival is requiring you to spend some more time working on your business and slightly less working in it. We can provide you with accurate, timely, and informative benchmarking reports that will allow you to:
- See how your business compares against your peers, and competitors
- Develop your understanding of how the balance of your industry operates
- Analyse your performance against the major performance indicators of your industry.
Then you will be equipped with the necessary information to gauge your business performance. We will also work with you to develop action strategies that will help you improve your cash flow and profitability.
Want to know more?
Contact us now to make an appointment.
- Either telephone us on 03 5571 2774,
- or email us using the form opposite. Please detail your requirements.
It will only take a minute of your time.
Contact us for a friendly, no obligation, exploration of your taxation and accounting needs.
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You see, small Business is our Passion!
© Peter Mulcahy 2011
Last updated Monday 13th February 2012
