Taxable payments annual report (TPAR) – Cleaners and Couriers

From the ATO:

Cleaners and Couriers will need to lodge a Taxable payments annual report (TPAR) each year on contractors in their business. For this tax year (2019) the return will be due on the 29th of August 2019.

If this affects you please ensure you keep the following information as a minimum requirement, the contractor’s:

  • Australian business number if known
  • name
  • address
  • gross payment for the financial year (including GST).

To discuss further please call 0398466542 or email info@townshendassociates.com to make an appointment

 

ATO: Common GST mistakes

From the ATO: When reporting GST:

  • make sure the timing is correct, and report for the correct tax period
  • check the figures to avoid accidental miscalculations and simple transcription errors
  • ensure your clients can substantiate their claims for GST credits
  • check there is a creditable purpose, so your clients do not claim GST for goods purchased for personal use
  • make sure your clients charge GST when they need to, including your businesses clients that may not realise they will pass the $75,000 GST threshold.