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TPAR – Taxable Payments Annual Reports

What are they? Do you need to lodge one? What information do you need?

https://www.ato.gov.au/business/reports-and-returns/taxable-payments-annual-report/

What are they?

Taxable payment reports detail all the payments a business has made to contractors they have paid during the past year.

Who needs to lodge one? – The following industries are currently required to lodge a TPAR

  • Building and Construction
  • Cleaning
  • Freight, including Couriers, Delivery firms and Road Transport
  • IT such as app developers, programmers, IT support
  • Security, Surveillance and investigation services.

What information is needed to be reported?

For each contractor you pay – you need to list the following:

  • Contractor Name
  • ABN
  • Address
  • You need to check to see if they are registered for GST (https://www.abr.business.gov.au/)
  • Total amounts paid for the year for each of the contractors including the amount of GST paid

This report needs to match your profit and loss report and also your tax return with the amount reported in subcontractors as it is cross checked.