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.

Get expert advice

For more information on how the changes affect you or your business and what you can do to make the most of them, book an appointment with one of our accountants.  Now is the time to act if you want to have a successful return. Book an appointment with a Modoras professional to know how you can make the most of your tax time this year.

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