Bookkeeping is a fundamental part of the financial process for any business. Without it, your accounting software has no data to work with. Keep reading for some tips to maximise your bookkeeping. Read More…
The taxable payments annual report (TPAR) provides information to the ATO information about payments made to contractors for certain services.
A TPAR is required to be lodged if you make payments to contractors and you are in the following industries; building and construction; cleaning; road freight; courier services; and security, investigation or surveillance services.
Essential Information Included in the TPAR
Contractors include subcontractors, consultants and any other independent contractor who is not an employee.
Unsure if You Should Complete a TPAR?
If your business offers services in any reporting industry, either as the primary type of income or part of your business mix, talk to us about the contractors you pay.
Check the ATO taxable payments annual report webpage for full details of all TPAR industries and all the services that must be included in the report.
Most accounting software programs include a means of preparing the TPAR from within the software once all the required details about contractors paid throughout the year have been entered.
If you need assistance in working out if you have to report this year, please contact our office on 6921 5444. We can also set up your software for correct reporting of contractors for TPAR and review the report before submitting it to the ATO on your behalf.
Client Services Supervisor
Bookkeeping is a fundamental part of the financial process for any business. Without it, your accounting software has no data to work with. Keep reading for some tips to maximise your bookkeeping. Read More…
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