Wise Accounting Podcast (wap)

When you lodge your activity statements and income tax returns you are not just reporting your GST and income tax details, you are giving the ATO important statistical information. If you run a small business you may have already heard of the ATO Small Business Benchmarks - and that is this is the result of your lodgement data. They have compiled it determine how you are expected to perform in your industry (based on particular assumptions). This has two impacts, it can be a means for additional tax, or it can provide you the efficiencies to grow your business. Listen in to find out more about the double-edged sword that is the ATO Small Business Benchmarks. To access your industry benchmark data simply follow the link: http://bit.ly/atobenchmarking