ATO Releases New Small Business Benchmarks

These benchmarks are updated every year and let clubs compare their expenses and revenue with other businesses, for example in the hospitality and entertainment sector.

Clubs operating as small businesses can check their benchmarks on the ATO website or by using the ATO app’s Business Performance Check tool. The data is also available here for more detailed analysis.

If your club’s numbers don’t align with industry benchmarks, consider speaking with a financial adviser or tax professional. 

It’s also worthwhile noting the ATO offers a free online learning platform, called ‘Essentials to Strengthen Your Small Business’, which can help clubs manage their tax and super obligations.

What Clubs Should Do Next

Now is a great time to check your club’s financial position. Here’s how:

1. Visit the ATO website – access the latest benchmarks here.
2. Compare your numbers – use the Business Performance Check tool.
3. Look for ways to improve – if your numbers don’t match up, review your financial strategy.
4. Get expert advice – a tax professional or financial adviser should be able to help you make sense of the data.

By using benchmarks, clubs can stay financially healthy and meet tax obligations without stress.

For more information, visit the ATO website here.