Taxable Payments Annual Report
The ATO is writing to businesses in the building and construction industry that have not lodged their ‘Taxable Payments Annual Report’, which was due to be lodged by 21 July 2014.
Each year, businesses in the building and construction industry must complete the Taxable payments annual report to advise the ATO the amount they paid for building and construction services.
What are ‘building and construction services’?
It is important to note that the definition of building and construction services is broad and covers a wide range of occupations and activities.
It includes services such as bricklaying, plumbing, etc. However, it also includes some activities that businesses may not be aware of, such as:
- architectural work (including drafting and design);
- cable laying;
- communications construction;
- decorating (including painting);
- installation of hard wired alarm systems;
- installation of solar devices;
- landscaping; and
- project management.
Clients with any concerns should contact our office on 07 4151 8898.