Taxable Payments Annual Report Due Soon – Building & Construction Industry, Contract Cleaning & Courier Clients
Businesses in the building and construction industry who have paid contractors for building and construction services in 2017/2018 need to lodge their Taxable Payments Annual Report by 28 August, 2018 with the ATO.
If you’re unsure whether your business falls into the wide range of activities and services for this industry you can check here Some examples are electrical, carpentry and plumbing services.
If you did not pay contractors or are no longer in the industry you can advise the ATO that you are not required to lodge a Taxable Payments Annual Report by using this link to complete the relevant form: https://www.ato.gov.au/tparnilreport/
From 1 July 2018 onwards, contractor-based cleaning and courier businesses will also be required to submit a Taxable Payments Annual Report. All of these industries will need to ensure they keep details of all contractors they engage including details such as name, ABN, address, phone number, gross amount paid for labour and GST.
If you need assistance to prepare or lodge your Taxable Payments Annual Report please contact our office.
