You may have to lodge a Taxable Payments Annual Report (TPAR) with the ATO by the 28 August each year, if you are a business providing certain services and you made payments to subcontractors, consultants or independent contractors. The contractors can be trading as sole traders, partnerships, companies or trusts.
The business services required to lodge a TPAR are:
- Building and construction services
- Cleaning services
- Courier services
- Road freight services
- Information technology (IT) services
- Security, investigation or surveillance services
- Mixed services (e.g. florists, retailers, building maintenance, event management)
The TPAR reports provide the following information to the ATO:
- The ABN of the contractors
- Their business or individual name and address
- The amount they were paid (including GST)
This information is used by ATO to identify contractors and consultants that have not met their required tax obligations.
For more details follow the link below or give us a call.
https://www.ato.gov.au/Business/Reports-and-returns/Taxable-payments-annual-report/