If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR) each year.
You need to know about TPAR if your business provides services in the areas of building and construction, cleaning, courier or road freight, IT or security or patrol services.
If you’re in the one of these industries and you hire one or more sub-contractors who provide a labour component to their invoice, the ATO requires you to lodge the Taxable Payment Report (TPAR) annually.
Whether you’ve maintained your data yourself or you’ve taken advantage of our full bookkeeping package, all data is compliant prior to any lodgements we prepare for you.
Not sure if you are required to lodge a TPAR? Check out this link from the ATO for further details about payments to subcontractors.
https://www.ato.gov.au/business/reports-and-returns/taxable-payments-annual-report/
We also offer a number of additional services such as completing and lodging Single Touch Payroll and Job keeper Monthly Declaration reports to the ATO and dealing with super payments made through a clearing house.
Let Lumos shine a light on your subcontractor payments.
