The Taxable Payments Annual Report (TPAR) is a report that businesses in certain industries must lodge detailing their payments to contractors or sub-contractors. It is important because it assists the ATO in matching the contractor’s income declarations and improving compliance. Businesses that must lodge TPAR are those that provide:
- Building and Construction services
- Courier or Road Freight services
- Cleaning services
- Information technology services
- Investigation or surveillance services
If you are unsure if your business needs to lodge TPAR or you wish to learn more, please check out the ATO’s screen on the topic.