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.
If you have any questions or require any assistance relating to your reporting obligations, please contact our team on 03 9708 8801 or email info@rvpartners.com.au for further information.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. The information contained within this document is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Robinson Voss Partners (RV Partners) strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.
