Taxable Payments Reporting

7 May 2015

Taxable Payments Reports for businesses in the construction industry are now due on 28 August. 

Businesses in the building and construction industry are required to report the total payments they make to each contractor for building and construction services each year.

In previous years the Taxable Payments Annual Report was due 21 July, but from 2015 the report is due 28 August. The reports be lodged online or in hard copy.

Who should report? 

Business must report if all of the following apply:

  • The business is primarily in the building and construction industry
  • The business makse payments to contractors for building and construction services
  • The business has an Australian business number (ABN).

A business is considered to be "primarily in the building and construction industry" if any of the following apply:

  • in the current financial year, 50% or more of the business income is derived from providing building and construction services
  • in the current financial year, 50% or more of the business activity relates to building and construction services
  • in the financial year immediately before the current financial year, 50% or more of the business income was derived from providing building and construction services.

What should be reported?

The following details need to be reported for each contractor:

  • ABN – if known
  • name
  • address
  • gross amount you paid for the financial year – this is the total amount paid, inclusive of goods and services tax (GST)
  • total GST included in the gross amount you paid.

Comprehensive details about Taxable Payments Annual Report requirements can be found on the ATO website. This includeds information about what payments should be reported, and what don't need to be reportedsample forms and a list of common mistakes, webinars and frequently asked questions.