Businesses that pay contractors for ‘Taxable payments reporting system services’ may need to lodge a ‘Taxable payments annual report’ (‘TPAR’) by 28 August each year.
This includes businesses paying contractors in the building and construction, cleaning and IT industries. It also includes courier services, road freight services, security and investigation or surveillance services.
From 22 March, the ATO will apply penalties to businesses that have not lodged their TPAR from 2024 or previous years, and/or have been issued three reminder letters about their overdue TPAR.
Businesses that do not need to lodge a TPAR can submit a ‘non-lodgment advice (‘NLA’) form’. Businesses that no longer pay contractors can also use this form to indicate that they will not need to lodge a TPAR in the future.
Note: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.
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