Business who make certain payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR). These include those providing services in the building and construction industry, cleaning courier and road freight, information technology, security, investigation or surveillance. You need to report the total payment amount if an invoice you receive from a contractor includes both labour and materials. TPARs are due on 28 August each year. If you do not lodge on time, you may have to pay a penalty.
Click to read our article: Get ready for your TPAR