Do you need to lodge a Taxable Payments Annual Report?

Geoff Yiu & Barry Sullivan explore the taxable payments annual reporting exemption and why just one payment to a contractor providing cleaning or courier services could trigger a requirement to report.

The taxable payments annual reporting (TPAR) requirements have recently expanded beyond the building and construction industry with the rules applying to the supply of cleaning and courier services from 1 July 2018.Supplies of road freight, information technology and security, investigation and surveillance services will be subject to the rules from 1 July 2019.As soon as an entity with an ABN provides a cleaning or courier service after 1 July 2018 and has made a payment to one or more contr...

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Authors: Geoffrey Yiu, Barry Sullivan

Published Date: 17 July 2019