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Building & Construction – Taxable Payment Reporting

[et_pb_section fb_built=”1″ theme_builder_area=”post_content” _builder_version=”4.18.0″ _module_preset=”default”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” theme_builder_area=”post_content”][et_pb_column _builder_version=”4.18.0″ _module_preset=”default” type=”4_4″ theme_builder_area=”post_content”][et_pb_post_title meta=”off” featured_image=”off” admin_label=”Post Title” _builder_version=”4.17.3″ _module_preset=”default” title_font=”Heebo|800|||||||” title_text_align=”center” title_font_size=”5rem” text_shadow_style=”preset1″ global_colors_info=”{}” theme_builder_area=”post_content”][/et_pb_post_title][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]Taxable payments reporting – building and construction industry
Building & Construction Trades
Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. You need to report these payments to us on the Taxable payments annual report. • From 1 July 2012, businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year.
Overview Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. You need to report these payments to us on the Taxable payments annual report. To make it easier to complete the annual report, you may need to check the way you currently record your contractor payment information. The information reported about payments made to building and construction contractors is used in our data matching program to detect contractors who have not either: Reporting Work out if you need to report You need to report if all of the following apply: You’re considered to be a business that is primarily in the building and construction industry if any of the following apply: Forms and tools Taxable payments annual report If you want to lodge a paper form, you must complete and send the Taxable payments annual report (NAT 74109) to us. You can’t use copies of this form that you’ve printed or photocopied yourself – you must use forms that we’ve printed. You can obtain an annual report form by noting the full title or NAT number and either: The paper form allows you to report up to nine contractors. If you have more than nine contractors, you will need to order additional forms. A ‘sample only’ copy of the Taxable payments annual report is available. This is a sample form only – you can’t use this to prepare your annual report. Avoid common mistakes Here are some tips to help you save time and get your annual report lodged correctly. See also: Worksheet You can print our worksheet to help you record details of payments you make to contractors for their building and construction services, particularly if you keep manual records. You can use the details you record in the worksheet to help you complete yourTaxable payments annual report. The worksheet is for your records only – do not send this to us. For a copy of the worksheet, refer to Taxable payments reporting – worksheetThis link will download a file (PDF, 178KB). Examples of building and construction services Below is a list of occupations and work activities that satisfy the definition of building and construction services: Examples of buildings, structures, works, surfaces or sub-surfaces Below is a list of what we consider to be buildings, structures, works, surfaces or sub-surfaces:    [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
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