myGovID has changed to myID
Remember all that confusion we had about myGov and myGovID? Well, the Government listened, and they have now changed myGovID to myID. Still confused? Don’t… from myGovID has changed to myID
If your business pays contractors or subcontractors you may need to lodge a Taxable Payments Report (TPAR) by 28 August 2020.
The report requires you to provide details of payments made for your contractors who are providing services to your business. The details you need to report will usually be found on your contractors invoice. These include their Australian Business Number (ABN), their name and address and the gross amount you paid to them for the financial year including GST.
Industries who are required to lodge a TPAR include:
Depending on your software, you can lodge your TPAR online either directly through your own software, or through the ATO Business portal.
For further information please visit the ATO website or feel free to contact us.