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Monday, 1 July 2013

Taxable Payments Report - Order Manual Copies of Forms on 1300 720 092


General Information on how the system works:

·      Within your software flag the suppliers to be reported on (it doesn’t include goods only invoices)

·      Invoices for labour or mixed labour/goods are to be included

·      The Law DOES NOT require a dissection between what is on the suppliers invoice

·      It is NOT a requirement to notify the suppliers of what you are informing the tax office

·      Print report of suppliers & YTD Paid Value for Taxable Payments Report for you to review

·      Only PAID invoices to be included in Taxable Payments Report at 30/6/2013 (it seems all software is aware of this requirement)

·      Create file of Taxable Payments Report in required format

·      Business may lodge on Business Portal or Tax Agent can lodge through Portal or SBR enabled software

·      If you want to lodge a paper form, you must complete and send the Taxable Payments Annual Report to the ATO

·      If you have more than 9 contractors you will need to order additional manual form

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