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Taxable Payments – New Compliance for Couriers and Cleaners
The Australian Government has reviewed areas of the ‘Black Economy’ – the market of people working outside of the tax regulation system – and found that payments made to certain workers, namely contractual couriers and cleaners, must now be included in a company’s Taxable Payments Annual Report (TPAR).
So if you’re running an Australian company with an ABN whose core or auxiliary service offering includes couriers and/or cleaning, then you will need to fulfil your tax payment reporting obligation to the ATO for these payments.
Contractors can be sole traders (individuals), companies or other entities invoicing your company for their services. You only need to report payments you make to contractors for courier and/or cleaning services.
Reporting Contractor Payments
Here are two examples:
If you’re a holiday property management company and you offer your client guests a departure/arrival cleaning service for which you use contract cleaners, then you will need to report those payments you make to the contract cleaners.
If you’re a branded merchandise company that needs to deliver items or samples to clients and you use contract couriers to do so, then the payments made to any contract couriers will be required to be included in your TPAR.
Transporting people/passengers and long haul freight transportation are not deemed to be ‘couriering’.
Lodging your TPAR 2018-2019
A company using contract courier and/or cleaning services will be required to collect the relevant information from 1 July 2018 and to report it in their 2018-2019 TPAR by 28 August 2019. You need to know that if an invoice from a contractor includes labour and materials, the total amount of the invoice must be reported as the payment. However, an invoice from a contractor for ‘materials only’ will not be included in the report.
The reportable information from an invoice you receive includes but is not limited to:
- ✔ ABN
- ✔ Name of Contractor
- ✔ Contractor’s Address
- ✔ Gross Amount Paid to Contractor (within FY 2018-2019)
- ✔ Total GST included in Gross Amount Paid to Contractor
You do not need to report:
- ▪ Payments for ‘materials only’
- ▪ Invoices unpaid as at FYE 30 June
- ▪ PAYG withholding amounts
Throughout this current financial year, you will need to be garnering data from your courier/cleaner contractor invoices. YML Group can guide you in the process and assist you with your TPAR lodgement.
How can YML help?
Talk to our YML Chartered Accountants Team today to see how YML Group can assist you with your TPAR. Contact us on (02) 8383 4400 or by visiting the . Contact us on (02) 8383 4400 or by visiting the Contact Us page page on our website.