TAXABLE PAYMENTS ANNUAL REPORT

Some businesses need to report each year on the total payments they make for particular services.  The Building and Construction Industry for example must do this for their sub-contractors. This is done via the Taxable Payments Annual Report.

Activities for the building and construction industry are broad – and can include architectural work, certification, decorating, engineering, landscaping, construction, project management and surveying.

If 50% or more of your business income is earned from providing building and construction services then you will need to prepare this report for the ATO.

Evolve can manage this process for you, and lodge your annual report through Xero, to ensure you comply with your legislative requirements.

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