Penalties for overdue TPAR

The Taxable payments annual report (‘TPAR’) must be lodged by 28 August each year. Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.

Affected industries where taxpayers may have an obligation to lodge a TPAR are:

Cleaning services;

Building and construction services;

Road freight;

Courier services;

Information technology services;

Security, investigation or surveillance services.

From 23 March 2022, the ATO will apply failure to lodge penalties to those who:

did not lodge their 2021 or prior year TPAR;

have already been sent three non-lodgment letters about their overdue TPAR;

do not respond to an ATO follow-up phone call about their overdue TPAR.

In the coming weeks the ATO may be phoning tax agents (or taxpayers directly) about their overdue TPAR, to follow up the non-lodgment letters that have been sent.

Editor: Should you have any questions (or require any assistance) about any of the issues raised in this update, please feel free to contact our office.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With three offices across Western Australia and over 20 years of experience, Muntz Partners is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X