Taxable Payments Annual Reports (‘TPARs’) due 28 August

2021 TPARs are due to be lodged for businesses who have paid contractors to provide the following services:

  • building and construction;
  • cleaning;
  • courier, delivery or road freight;
  • information technology (‘IT’); or
  • security, surveillance or investigation.

With specific reference to the TPAR due on 28 August 2021, the ATO has reminded taxpayers they may need to report payments made to contractors during the 2021 income year for the first time.

This will particularly be the case where such payments were made for delivery services done on behalf of their business (i.e., perhaps as a result of a COVID-19 business ‘pivot’ during lockdown periods).

Disclaimer
This publication is intended as a general commentary only and does not purport to be comprehensive. It should not be regarded as tax advice and you should not act solely on the information contained herein. Please contact AscendPoint to further discuss about your circumstances or concerns.

Taxable Payments Annual Reports (‘TPARs’) due 28 August