The Australian Taxation Office (ATO) has released updated benchmark data to help small businesses across the country compare their performance with their competitors and ‘swim between the flags’. Assistant Commissioner Peter Holt said that businesses should use the benchmarks to gauge the strength of their business and keep an eye on their competition.

“The Federal Budget will give business and the community confidence for the future and is cause for optimism. The very significant tax contribution in 2018 from business has created room to move on tax relief, infrastructure and deficit reduction,” Mr Innes Willox, Chief Executive of the Australian Industry Group said.