A reminder for those of you in the building and construction industry that your 2015 Taxable payments annual reports are due 28 August 2015.
This report is to include the total payments made to each contractor who provides building and construction services, along with the contractor’s details.
When completing the taxable payment annual report, ensure that for each contractor, you correctly report the Australian Business Number (ABN) and the total amount of GST you paid throughout the year.
Penalties may be incurred if you do not lodge your annual report by the due date.
If you are in the building and construction industry and are unsure of your requirement, please do not hesitate to contact us.