Are you in a TPAR Industry?
The Taxable Payment Annual Report, otherwise known as a TPAR can sometimes throw businesses when it comes time for lodgement. Especially now that ATO have made recent changes to require more industries to participate from the 2020 Financial year on-wards.
Are you operating in any of the following industries?
– Building & Construction Industry
– Cleaning Services
– Courier or Road Freight Services
– (IT) Information Services
– Mixed services, i.e. a combination of the above
If this sounds like you, then it is likely that you will be required to submit an annual report detailing the payments you have made to your sub-contractors by the 28th August each year.
While the the building and construction industry have been complying with this reporting obligation for a number of years now, the ATO has only this year extended the requirement to further industries in a bid to expose those persons reporting their earnings in-appropriately.
If this sounds a little daunting, dont fear! We can help review your records and assist with the lodgement on your behalf. We can also help you to form administration procedures so you to collect the correct information to make this task a breeze.
Helpful Links
Follow these links, to get the information you need on this itchy subject.
Do you need to lodge a TPAR?
Payments and details you need to report
General Information about the TPAR
Record Keeping Tips from the ATO
