Back Arrow
Back to finance news

Reminder on Taxable Annual Report

28 Jul 2023

A reminder to businesses of the upcoming deadline for the lodgement of their Taxable Payments Annual Reports. These reports need to be lodged with the ATO by 28 August. Businesses who operate in the following industries and engage subcontractors are required to submit these forms: - Building and construction; - Cleaning services; - Courier or road freight services; - IT services; or - Security, investigation or surveillance services. These forms notify the ATO of the payments made by your business to subcontractors and helps ensure these entities declare and pay tax on their income. The form details the name, ABN, gross payments and GST paid to each subcontractor. If you need assistance with the preparation and lodgement of this form or are unsure whether there is a need for you to lodge this form, please do not hesitate to contact us.

Want advice from an expert?

Read More

Free Assessment

Elysium offers a free, in person, financial assessment.