The Taxable payments annual report (‘TPAR’) must be lodged by 28 August each year
Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.
Affected industries where taxpayers may have an obligation to lodge a TPAR are:
- Cleaning services
- Building and construction services
- Road freight
- Courier services
- Information technology services
- Security, investigation or surveillance services.
From 23 March 2022, the ATO will apply failure to lodge penalties to those who:
- did not lodge their 2021 or prior year TPAR
- have already been sent three non-lodgment letters about their overdue TPAR
- do not respond to an ATO follow-up phone call about their overdue TPAR.
In the coming weeks the ATO may be phoning tax agents (or taxpayers directly) about their overdue TPAR, to follow up the non-lodgment letters that have been sent.
We provide practical, no-nonsense, real-world advice and proven solutions that you can implement now to deliver fast results. Call Omnis Group’s Business Accountants in West Perth on 08 9380 3555 today.