Every year businesses in the construction industry that have made payments to contractors for building and construction services will need to lodge a "Taxable payments annual report" listing the details of each building/construction contractor that has been paid during the year.
We have received some queries from clients on whether they would be classed as a business considering that they are small-time sole traders. Anyone who runs a business (i.e. anyone with an ABN) is classified as a business.
The due date for lodging this report is:
- If you lodge Quarterly BASs (Business Activity Statements) - 28 July every year from 2014
- If you don't lodge Quarterly BASs (Business Activity Statements) - 21 July every year from 2014
- And for the first year (the year ending 30/06/2013) the due date will be 25 August
If you are not required to report
If you received a TPAR form from ATO but are not required to lodge the annual report this year (this happens if you are either not running a business in the construction industry, or you are running a business in the construction industry but didn't make any payments to contractors for building and construction services), you will have to lodge a TPAR Nil Report.
Methods of lodgment
Electronically
You can lodge the form online through the ATO Business Portal. This videoprovides instructions on how and when to lodge the form online.
Paper forms
Using this method requires you to fill out a paper form and post it to the ATO. You will need to order the form directly from the ATO or their online ordering service
When ordering online you will be prompted to enter the "NAT number". The NAT number for the form is 74109.
A sample of the form can be found here
Further information can be found here