Businesses that pay contractors to provide certain services may need to lodge a taxable payment annual report (TPAR) each year.
From 22 March 2024, The ATO will begin applying penalties to businesses that:
Businesses that must lodge an annual TPAR
An annual TPAR must be lodged by the following business types that make payments to contractors and subcontractors for their services and
hold an ABN:
Non-lodgment advice
If you don’t need to lodge a TPAR in an income year, you can submit a non-lodgment advice with the ATO.
If you no longer pay contractors, a non-lodgment advice may also be submitted to indicate that no future TPARs will be required to be lodged.
Please get in touch with your WDF team member today on 6921 5444, should you require assistance with lodging any outstanding TPARs or engaging with the ATO on your behalf if required.
Manager
WDF Accounting and Advisory | Accountants Wagga | Your partners in business
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