After knowing about the Income Tax Returns, it becomes very important to lodge the Taxable Payments Annual Report by August 28 of every year. This applies to business including the following ones:
Let us have a brief look at the category as mentioned below:
If the business is primarily based on real estate, building, and construction, then the taxation lodgments need to be done for the:
The payments done to the employees would not be included in the TPAR. The reporting is to be done by August 28 every year. The activities and services are to be considered while building and construction are ongoing.
In case of the business being involved in providing facility management services even if it is a part of the services, the businesses must lodge TPAR for every financial year. This includes:
The payments done to the employees would not be included in the TPAR. If the businesses provide mixed services including cleaning, they need to lodge TPAR for the payments being received for cleaning services which can make up 10% or more of the total GST turnover.
Reassessment needs to be done when TPAR lodgment is done every year. The first TPAR for payments to contractors from July 1, 2018, to June 30, 2019, would get due by August 28, 2019.
In case is about providing courier services, the TPAR must be lodged for every financial year including:
The payments done to the employees would not be included in the TPAR. If the businesses provide mixed services including courier services, they need to lodge TPAR for the payments being received for cleaning services which can make up 10% or more of the total GST turnover.
Reassessment needs to be done when TPAR lodgment is done every year. The first TPAR for payments to contractors from July 1, 2018, to June 30, 2019, would get due by August 28, 2019.
In case is about providing transport freight services, the TPAR must be lodged for every financial year including:
The payments done to the employees would not be included in the TPAR. If the businesses provide mixed services including transport freight services, they need to lodge TPAR for the payments being received for transport freight services which can make up 10% or more of the total GST turnover.
Reassessment needs to be done when TPAR lodgment is done every year. The first TPAR for payments to contractors from July 1, 2019, to June 30, 2020, would get due by August 28, 2020.
In case is about providing Information Technology (IT) Solutions and Services, the TPAR must be lodged for every financial year including:
The payments done to the employees would not be included in the TPAR. If the businesses provide mixed services including Information Technology (IT) Solutions and Services, they need to lodge TPAR for the payments being received for Information Technology (IT) Solutions and Services can make up 10% or more of the total GST turnover.
Reassessment needs to be done when TPAR lodgment is done every year. The first TPAR for payments to contractors from July 1, 2019, to June 30, 2020, would get due by August 28, 2020.
In case is about providing Security Surveillance Services, the TPAR must be lodged for every financial year including:
The payments done to the employees would not be included in the TPAR. If the businesses provide mixed services including Security Surveillance Services, they need to lodge TPAR for the payments being received for Security Surveillance Services can make up 10% or more of the total GST turnover.
Reassessment needs to be done when TPAR lodgment is done every year. The first TPAR for payments to contractors from July 1, 2019, to June 30, 2020, would get due by August 28, 2020.
In case the businesses provide some other nature of work apart from the ones listed above, the TPAR needs to be lodged. Every financial year, the percentages of payments need to be calculated as per the nature of services. In case the total payments are 10% or more than the GST turnover, the TPAR must be lodged.
Even if the GST is not registered, the TPAR lodgment still needs to be checked and verified. The businesses need to have a GST turnover regardless of whether the GST is registered or not.
The examples that the miscellaneous types of business include:
These pieces of information are important to know when the nature of businesses differs along with the percentages of tax lodgment.