If you operate in the building industry then you should have heard of the above acronym. You should also have received a reminder from the ATO that your TPAR is due to be lodged by 28 August 2020.
Basically, if your business has made payments to contractors or subcontractors you may need to lodge a Taxable Payments Annual Report (TPAR) before the due date.
You will need to lodge a TPAR with the ATO if your business provides any of the following services:
- building and construction services – this category is very broad; it includes plumbing, architectural, electrical, plastering, carpentry, engineering and a wide range of other activities
- cleaning services – this includes interior and exterior cleaning of structures, vehicles, machinery and cleaning for events
- courier services or road freight services – this includes delivery of items or goods (such as parcels, packages, letters and food) by motor vehicle, bicycle or on foot, the transportation of freight by road, truck hire with driver, and road vehicle towing services
- information technology (IT) services – this includes writing, modifying, testing or supporting software to meet a clients needs, whether on site or remotely through the internet
- security, investigation or surveillance services – this includes patrolling and guarding people, premises or property; watching or observing an area and monitoring security systems; and investigation specifically related to security and surveillance, not just information gathering
The TPAR details payments made to contractors for providing services. The details you will need to
report for each contractor/subcontractor include:
- their ABN
- their name and address
- gross amount paid to them for the financial year (including GST)
If you need assistance with preparing your TPAR, we’re here to help.
If you require further information please visit https://www.ato.gov.au/Business/Reports-and-returns/Taxable-payments-annual-report/