19/10/2026
Do you pay subcontractors?
If 10% or more of your business income comes from building and construction services, you need to lodge a Taxable Payments Annual Report (TPAR) every year.
The TPAR lists every subcontractor you've paid, their ABN and the total amount paid, including GST.
What you need to know:
1️⃣ The ATO uses this data to check contractors are declaring all their income.
2️⃣ Late or missing reports can mean penalties.
3️⃣ If a subcontractor doesn't give you an ABN, you must withhold 47% from their payment for tax.
The easiest way to handle TPAR? Track payments all year, not in a rush when your report is due.
JVP Advisory sets up Xero to capture contractor details automatically, so your report is quick and accurate. Get in touch to get set up before next year.