How does the tool work?
The tool compares your level of productivity with that of your peers in the same industry using your industrial code (NAICS code) and data from your corporate federal income tax returns.
You’ll need the following information from your federal corporate tax records: T2 Income Statement Information (schedule 125); T2 Balance Sheet Information (schedule 100); T4 Statement of Remuneration Paid; Capital Cost Allowance (CCA – schedule 8).
How do I find my industry or its NAICS code?
This tool uses Statistics Canada’s North American Industry Classification System (NAICS). These classifications can be consulted at www.statcan.gc.ca or by clicking on the following link: NAICS Codes
Most companies will be able to benchmark themselves at the sixth- or fifthdigit level. If not, the tool produces results at the fourth- or third-digit level. The sixth-digit level is more detailed than the third-digit level. Therefore, productivity indicators at the sixth-digit level are more reliable.
Why is it necessary to use data from my federal business income tax returns?
This source of data was selected because it makes it possible to obtain estimates from a majority of Canadian businesses in multiple industries, from manufacturing to services.
The tool was developed using anonymous data taken from the federal business tax returns of more than 600,000 Canadian businesses from most business sectors. It is the result of a partnership between BDC and Statistics Canada.
Can I use an estimate of my data rather than figures taken from my tax return?
You can use an estimate from your financial statements. However, the results will be less precise and therefore less valid, since the data used to compare your productivity comes from federal corporate income tax returns.
Why is my industry not part of the database?
Some industries are not represented in the database because it was not possible to obtain quality estimates using the available financial data. It is also possible that there are too few businesses in the industry for Statistics Canada to be able to provide valid data, or that the activities of the field are too dissimilar. However, almost 90% of industries in Canada are represented.