Home About Us Our Services Testimonials Latest News Client Resources Contact Us Make an Enquiry
"Ajen is an accountant who is down to earth and genuinely interested in their clients prospering."
"As a trusted advisor you guided our business back on course when the outlook was far from positive and we look forward to your continued assistance into the future"
"His attitude towards his work and my portfolio has been exemplary. He always finds time for me at short notice and is a benefit to all."
"Ajen always has a high standard of professional manner. He continued to give me good advice and is a reliable person, helpful in sorting out problems and finding solutions easily."
"Ajendra has made himself available sometimes even after normal business hours, to assist us with any questions we have, even when sometimes they may have seemed silly or simple, he has answered in full and easy to understand terminology, at no point has he ever made me feel silly for asking."
"He is always accessible to speak with and even calls me to ask if I need help with anything."
"Ajendra's willingness to dedicate "caring time" to his clients sets him apart from others."
"I am confident to refer friends and family to his team because I know they are in the most capable hands. Ajendra’s honest, caring and upbeat nature has been an absolute godsend and I am so thankful that our paths crossed"
"Ajendra’s speaks with you in a language that you can understand and comprehend easily which assists in equity and partnership with your tax agent."
"We find you have a personal approach to your accounting practice, which makes everyone feel like number 1. This is a rare and special trait, and leaves us knowing we are in good hands."
"He is very astute, and at the same time down to earth and really interested in his clients prospering. For people like us who are new to small business this is an absolute god sent."
"He shows a genuine interest and I never feel rushed. He has created a warm and friendly environement."

ATO warns businesses on looming TPAR deadline

Share this article:

The ATO is reminding businesses to lodge their tax payable payment annual report by 28 August after issuing around $9 million in penalties in the five years to 2023.

.

The Tax Office is urging businesses required to lodge a taxable payments annual report (TPAR) to do so by 28 August 2024.

Businesses may be required to lodge a TPAR if they pay contractors for certain services including building and construction; cleaning; courier and road freight; information technology (IT); or security, investigation, or surveillance.

It also applies to government entities that pay grants to people or organisations with an Australian Business Number (ABN).

The ATO warned businesses that it is an annual requirement to lodge a TPAR and that penalties may apply for failing to lodge one.

ATO Assistant Commissioner Tony Goding said the taxable payments reporting system (TPRS) ensures contractors providing certain services report all their income.

“This helps keep a level playing field by making sure all businesses pay their fair share of tax,” said Goding.

“TPAR data strengthens our ability to detect and deal with dishonest operators trying to gain an unfair advantage over the majority who do the right thing. It also protects billions of dollars in missing taxes each year, money that funds essential community services, like health, education and natural disaster management.”

In the 2023–24 financial year, Goding said the ATO provided visibility of more than $451 billion in gross TPAR payments from almost 177,000 businesses to almost 1.3 million contractors.

“In doing so, we have helped contractors complete their income tax returns through the pre-fill and transaction services report,” he said.

The ATO said that from 2019 to 2023, it has issued approximately $9 million in penalties to over 5,200 businesses not lodging their TPAR.

“Lodging online is quick and easy. If businesses are unsure if they need to lodge a TPAR, they can visit www.ato.gov.au/TPAR or ask their registered tax or BAS agent,” said Goding.

The ATO said tax or BAS agents can lodge a TPAR or NLA form for their clients using SBR-enabled software or through Online services for agents.

 

 

 

Miranda Brownlee
26 August 2024
accountantsdaily.com.au

Want to know more?

Do you have a question about something you've read in this article? Need more information? Want to book an appointment? Simply let us know below and we'll get back to you ASAP.

Share this article: