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10 Dec 10 On benchmarking

MEMBER 361 writes:

"It would be extremely helpful if the ATO could indicate the industry code(s) to which the various industry benchmarks apply. We have a diverse small business client group, and struggle to identify which (if any) benchmark applies to a particular client. We are attempting to pro-actively educate and/or inform our clients of the benchmarks applicable to their industry, but are hampered in that attempt by insufficient disclosure by the ATO. Greater levels of disclosure would be appreciated."

TAXVINE COMMENT: Tax Counsel Deepti Paton ATIA advises that this issue was raised at a recent meeting of the ATPF Accounting Working Group where representatives of the ATO noted that the possibility of disclosing this information is currently being investigated. We will provide members with an update via TAXVINE when we have further information in relation to this issue.

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