What is Taxable Payments Annual Report (TPAR)?

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Do you have contractors? You may need to lodge TPAR. But what is it? And when do you need to lodge?

If your business makes payments to contractors or subcontractors you may need to lodge a Taxable Payments Annual Report , or TPAR by 28th August each year.

The purpose of TPAR is, for the ATO to match the payment from both sides, from you, and from the contractor, to make sure the right amount is reported.

If your business type is in: Building and Constructing services, Courier services or Road Freight services, Cleaning services, IT services, Mixed services, Security, Investigation or surveillance services, then you need to lodge a TPAR.

To make this job easier at the end of financial year, when you make payment to contractor, please make sure you have:
their ABN
Name and Address
and the gross amount you paid to them for the financial year.

Using an accounting software, such as Xero, will help you in recording the information that you need and make the whole reporting process easier each year.

Do you have questions about TPAR or other things related to bookkeeping for your business? Let me know in the comments, and please follow us on Facebook, Instagram and our website for more tips.

Bookkeeping Services we offer in the Sunshine Coast:

• GST, BAS Preparation & Lodgement
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