If you’ve paid a tradie, cleaner or courier contractor to help in the last year, you might need to lodge a Taxable Payments Annual Report (TPAR).

You may need to lodge a TPAR if your business:

  • is primarily in the building and construction industry and paid contractors to provide building and construction services – including carpentry, engineering, architects and consultants.
  • provides cleaning or courier services and paid contractors to provide these services on your behalf.

The 2019 TPAR, for the above industries, was due 28 August 2019.

Alternately does your business:

  • provide road freight, IT or security, investigation, or surveillance services, and
  • pay contractors (including subcontractors, consultants and independent contractors) to provide those services on your behalf?

If you do, you will need to complete a Taxable payments annual report (TPAR) to report the total payments (including cash payments) you make to each contractor for providing those services on your behalf.

Your first report is due 28 August 2020 for the 2019–20 financial year.

So if you haven’t already, you need to start keeping records of the contractor payments you made from 1 July 2019.

The details you need to report about your contractors are generally contained in the invoices you receive from them and is what you would use for your deduction claims.

Mixed services

If you provide a range of services – what we call ‘mixed services’– you may need to report if payments from these services make up 10% or more of your total GST turnover. Even if your business isn’t registered for GST you still need to check.

In practice this means that if the payments you receive for road freight, IT or security, surveillance and investigation are only a minor part of your overall turnover then it’s unlikely you will need to lodge a TPAR.

Next step:

 

Source: ATO News Room

11 September 2019

If you require assistance with TAPAR lodgements, contact your working professional at Coffs Coast Consulting.

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