• Business industry code reporting

    Many businesses change purpose over time. This tax time, take the opportunity to check your clients' business industry codes are correct.

    Updating a business industry code

    Use the Business industry code tool to check what your clients' business industry code should be. If it needs updating:

    Why update business industry codes?

    Having the right code on your clients' tax returns can:

    • stop us contacting you and your clients unnecessarily
    • prevent delays in processing tax returns
    • ensure your clients are not incorrectly identified for compliance activities
    • ensure businesses receive the information and advice relevant to their business activity.

    Once you have the correct code, you can use the Small business benchmarks to see how your clients' businesses compare against their competitors.

    Operating multiple businesses

    For clients with multiple businesses, select the main business activity and indicate they operate multiple businesses at the relevant label on their tax returns.

    Identifying clients with multiple businesses means they aren't used for small business benchmarks risk assessments or audits.

    See also:

    Last modified: 26 May 2017QC 45704