In This Edition:
With Tax Time 2019 just around the corner, we run over the sort of substantiation that the ATO expects for work-related deductions that taxpayers claim. We also look at Taxable Payments Annual Reports, and the new industries that these cover starting this year.
Also this month we cover the ATO¹s compliance actions that it is subjecting trusts to, and the status of making personal deductions for car parking expenses.
Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
Click here to view our June 2019 Newsletter...
Taxable Payments Annual Report (TPAR)
You may need to lodge a Taxable payments annual report (TPAR) by 28 August each year, if you're a business or contractor providing the following services:
- building and construction
An ATO supplied fact sheet on taxable payments annual reports is a handy resource: Download it here
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Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.