A must read for building & construction clients!
Clients in the building and construction industry who pay contractors for building and construction services are required to report the payments to the ATO on the Taxable payments annual report.
Taxable payments annual reports are due for lodgement on the 21st of July 2014. Penalties may incur if you do not lodge your annual report by this due date.
For further information on the taxable payment reporting please click here or visit https://www.ato.gov.au/Business/Building-and-construction/In-detail/Taxable-payments-reporting/Taxable-payments-reporting/.
If you need assistance completing your report, please don’t hesitate to contact us on 07 3394 2311.