The ATO has now confirmed that those who run a courier and/or cleaning business must lodge a Taxable Payments Annual Report (TPAR) from 1 July 2018.
What is a TPAR?
A TPAR is the Taxable Payments Annual Report that tells the ATO about the payments you are making to contractors who provide services to your business. The report must be prepared once per year and is due in August annually. Find out more about what you need to report in our blog here. Also, see this link from the ATO for further details.
If you run a cleaning business, see further information from the ATO here and
If you run a courier business, see further information here from the ATO.
The ATO also offers a very useful range of resources to help you understand everything you need to know about the TPAR. These include 3 x 1 minutes videos, 2 fact sheets and also some webinar recordings.
The first TPAR for payments made to contractors from 1 July 2018 to 30 June 2019, will be due by 28 August 2019.
If this affects you, please don’t hestitate to contact us to assist you in setting up your systems for TPAR and/or lodging the report on your behalf. It is important to get your systems updated now to ensure all information you need for your first TPAR is easily available in 12 months time – we can help you with that!