17-08-2020

Reminder – Taxable Payments Annual Report (TPAR) Due Soon.

The Taxable Payments Annual Report for the 2019/20 financial year is due on 28th August 2020.

Businesses that provide certain services must report the details of the payments made to contractors during the year.

If you are unsure of what information needs to be reported on the TPAR or if you are unsure if your business is required to lodge a TPAR, please refer to the additional information below or contact our office.  

We also note that the ATO are actively following up any unlodged TPAR reports from prior years. If you are concerned that you have prior years outstanding please contact us.

About TPAR

Your business will need to prepare and lodge a TPAR for the 2019/20 financial year if it provides any of the following services and make payments to contractors:

  • Building & construction services
  • Cleaning services
  • Courier and road freight services
  • Information technology services
  • Security, investigation or surveillance services

It is important to note that if your business provides one or more of these services, and they make up more than 10 percent of your GST turnover, you must lodge a TPAR with the ATO, even if these services are only part of the overall service you provide.

The follow information must be reported on the TPAR for each contractor that the business has paid during the year:  

  • ABN (where known)
  • name (business name or individual’s name)
  • address
  • total amounts for the financial year of the    
    • gross amount paid (including GST plus any tax withheld)
    • total GST you paid them
    • total tax withheld where ABN was not quoted.

Please note that the following payments should not be included on the TPAR:

  • Payments for materials only
  • Payments of incidental labour
  • Unpaid invoices as at 30 June each year
  • PAYG withholding payments
  • Payments for private or domestic services

The ATO explains what to include and exclude on your TPAR report in more detail here.

The TPAR can be lodged online using SBR-enabled software or via the ATO business portal. Alternatively, you can lodge the TPAR on paper. Please click here for further information from the ATO in relation to lodgement of your TPAR.

Please contact our office if you require any assistance with reviewing your TPAR obligations or if you need assistance with completing the TPAR form.

Disclaimer:
The information on this website and the links provided are for general information only and should not be taken as constituting professional advice from Hall Browns Accountants. You should consider seeking the appropriate legal, financial, or taxation advice to check how the website information relates to your unique circumstances.

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