According to the ATO, the purpose of data-matching is to ‘maximize voluntary compliance’ and ‘to deter, detect and address non-compliance’. In recent years, the ATO has, in particular, targeted industries in the ‘cash economy’ in its effort to ensure fairness and transparency in tax collection.  The way the tax system works in Australia is basedContinue reading “ATO DATA MATCHING”

Benchmarking In Business

What is Benchmarking? Benchmarking is the process in which organisations evaluate various aspects of their processes in relation to best practice companies’ processes, usually within a peer group defined for the purposes of comparison.  Some financial benchmarking data is available from the Australian Taxation Office.  The ATO’s Benchmarks are key financial ratios developed from informationContinue reading “Benchmarking In Business”