Published on 18 Oct 12
by TASMANIAN DIVISION, THE TAX INSTITUTE
The ATO has developed benchmarks for over 100 industries. Benchmarks compare businesses to determine whether audit activity is warranted. This paper is designed for proprietors of SME businesses and advisers.
The paper covers the following issues:
use of industry benchmarks by the ATO
how to prepare for and manage cash economy audits
record-keeping for protection in the audit process.
Adrian Abbott CTA
Adrian is a consultant to Crowe Horwath, who brings 35 years of experience in accounting, tax and business management to his client base. He has focused on high net worth reviews and benchmarking. Adrian works in conjunction with the ATO on alternative dispute resolutions. Adrian is on the Institute's dispute resolutions committee. Current at 20 September 2016
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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