Taxable Payments Reporting

How to lodge your taxable payments annual report online

If you are in the building and construction industry, you are now required to lodge a taxable payments annual report (TPAR) on the 21st July each year. The TPAR tells the ATO about payments you have made to contractors during the year in your business. Lodging via hard copy and snail mail can be a nuisance particularly if there are many contractors to report about. Here is a great video from the ATO showing you how you can lodge  the TPAR online:

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Taxable Payments Reporting for the Building & Construction Industry

Recently I attended one of the free webinars presented by the ATO about the new Taxable Payments Reporting system that has begun as of today, July 1st 2012. I found it to be very informative and easy to follow. I highly recommend anyone who needs to know more about the new system, attend one of these webinars. Here’s hoping the ATO will produce many more webinars across a whole range of topics in the months to come – much easier attending a presentation from the comfort of your own office!

 The following is a summary of what was presented at the webinar:

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