The taxable payments reporting system for more industries

March 20, 2019

From the 2019–20 financial year onwards, businesses providing road freight, information technology (IT), security, investigation or surveillance services are legislated to report contractor payments in the taxable payments reporting system. If your clients provide these services, they need to keep records of their payments to contractors, and complete a Taxable payments annual report.

The first TPAR needs to lodged by 28 August 2020 for payments made from 1 July 2019 to 30 June 2020.

Any future TPAR will be lodged  by 28 August each year.

ATO will send  letters to clients in these industries advise them the new reporting requirement.

ATO will provide information about how to lodge a TPAR and what you should report in a TPAR.

For our clients, we will prepare the TPAR for you business if you have made payment to contractors.

If you operate bushiness in these industries, please make the sure the following information is included in the invoices issued by contractors:

  • Contractor’s ABN
  • Full name or business name
  • Physical address
  • invoiced amount (GST inclusive or not)

Should you have any questions, please feel free to contact us.