From 1 July 2019, the taxable payments annual reporting scheme was expanded to include road freight services, information technology services and security, investigation or surveillance services.
It already covers building and construction, cleaning and courier services.
If you are in a business that pays contractors to deliver the above services, you will need to track these payments and be ready to lodge a taxable payments annual report disclosing the contractors ABN, name, address, gross amount paid and GST (if applicable). The TPAR is due for lodgement annually by 28 August.
MYOB, QuickBooks Online and Xero all have inbuilt solutions to assist you with your TPAR obligations.
