TPAR (Taxable Payments Annual Reports)
TPAR means taxable payments annual reports.
Payments which are made by Contractors can include subcontractors, consultants and independent contractors who may be operating as sole traders, companies, partnerships or trusts need to be disclose ATO.
The information is collected by the ATO and make sure that this payments are all true and can identify that those contractors who have not included all of their income on their tax return, not lodged tax returns or activity statements, not registered for GST and so they required to do all things and double check ABN on their invoices.
TPAR is for businesses who give information includes:
- Building and construction services
- Cleaning services
- Courier services
- Road freight services
- IT services
- Security, investigation or surveillance services
- Mixed services includes a business providing one or more of the services
- Pay contractors to provide those services on your behalf
TPAR is due by 28th August each year and in a case if you forget to lodged, You may penalise for not lodged or after due dute lodgedments.
For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au
