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  • 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:

    • enter the new code in their next tax return
    • change it on the ABRExternal Link.

    Why update business industry codes?

    Having the right code in 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 more than one type of business, select the main business activity and indicate they operate multiple businesses at the relevant label in their tax returns.

    Do not use information from multiple businesses as this could mean the business is incorrectly classified as outside the benchmarks.

    If your client’s industry is not represented in our benchmarks, you can use the information in Taxation statistics.

     

    Last modified: 30 May 2019QC 45704