If you as a business owner or company providing services such as
- Building and Construction
- Cleaning
- Courier or Freight
- Information Technologies (IT)
- Security, Investigation or Serveilaince
And if you are hiring contractors, sub contractors or consultants, you are required to submit Taxable Payment Annual Report. In short, it is referred to as TPAR. They can be operating as sole traders (individuals), companies, partnerships or trusts.
The information you need to lodge TPAR,
- their ABN
- their names and addresses
- the total amounts you paid during the financial year – 1st July to 30th June which includes the GST component if any
Your first TPAR will need to be lodged by 28 August 2019 for payments made to contractors between 1 July 2018 and 30 June 2019.
You may either fill the details on the forms sent by the ATO or submit the information online.
If you need help, please get in touch with us.