15 August 2024
The Taxable Payments Annual Report (TPAR) is a mandatory report required by the Australian Taxation Office (ATO) for specific industries.
The report details payments made to contractors for services provided to help the ATO ensure that those contractors meet their tax compliance obligations.
Industries Required to Report
Businesses in the following industries must submit a TPAR:
- Building and Construction
- Cleaning Services
- Courier and Road Freight Services
- Information Technology (IT) Services
- Security, Investigation, or Surveillance Services
Payments That Must Be Reported
Businesses operating in the industries listed above are required to report payments made to contractors for services rendered.
If an invoice includes both labour and materials, the entire payment must be reported unless that labour is incidental to the supply of materials.
Due Date for Submission
The TPAR must be lodged with the ATO by the 28th of August each year.
With that date now approaching, businesses should take steps to finalise their TPAR.
If you need assistance to understand your businesses TPAR obligations, or to prepare and lodge the TPAR, please get in touch.
Sky Accountants Ballarat
Phone: 03 5332 8855
Office Address: 902 Howitt Street, Wendouree, Victoria 3355, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354
Sky Accountants Gisborne & Macedon Ranges
Phone: 03 5428 1400
Office Address: 45 Hamilton Street, Gisborne, Victoria 3437, Australia
Postal Address: PO Box 270 Gisborne Victoria 3437