TAXABLE PAYMENTS ANNUAL REPORT
Taxable payments annual reports (TPAR) are a report submitted by businesses to the ATO which tells them about payments that have made to contractors.
Those businesses providing Building & Construction Services have been required to report for quite a few years now.
The requirement to report is now being extended to businesses that provide Cleaning Services and Courier Services. These businesses are required to report on payments to contractors each financial year, with the first report being due 28th August 2019 for payments made to contractors between 1st July 2018 – 30th June 2019.
This is further being extended to included businesses providing Road Freight Services; Information Technology Services; and Security, Investigation or Surveillance Services who will be required to report each financial year beginning with the 2020 financial year for payments made between 1st July 2019 – 30th of June 2020. This report will be due to be lodged on the 28th of August 2020.
If you need any more information regarding taxable payments reports, please don’t hesitate to contact us.