If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR) by 28 August each year.
The taxable payments reporting system aims to create a level playing field – to prevent dishonest operators from gaining an unfair advantage over the majority. The information we collect in the TPAR allows us to identify contractors who are not meeting their tax obligations.
You need to know about TPAR if your business provides any of the following services, even if it’s just part of the services you provide each year:
- building and constructions services
- cleaning services
- courier or road freight services
- information technology (IT) services
- security, investigation or surveillance service
For further information please refer to the ATO website: https://www.ato.gov.au/business/reports-and-returns/taxable-payments-annual-report/lodging-your-tpar/ or contact our office for assistance.