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Advisers urged to proactively engage on TPRS awareness

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Advisers urged to proactively engage on TPRS awareness

The Tax Office is urging agents to get in touch with clients who may not realise that their industry falls under the extended taxable payment reporting system ahead of the 1 July rollout.

Bookkeeper Reporter 13 June 2019
— 1 minute read

The TPRS regime has been extended to a number of new industries in recent times, with the cleaning and courier industries coming into line since 1 July 2018, and the road freight, security, investigation, surveillance and information technology industries set to report from 1 July 2019.

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The annual report for businesses that supply courier or cleaning services is due by 28 August 2019, while reporting for road freight, IT, security, investigation or surveillance services will be due by 28 August 2020.

ATO assistant commissioner Colin Walker said it was important for agents to start understanding which clients would fall inside the reporting regime and get them on board as soon as possible.

“It’s important, from an agent perspective that, not only do you understand how they come in there, because it is essentially not just that service, they may well only be providing a percentage of their work in that area, contracting to do those services there that is quite likely to be a reporting requirement there anyway,” Mr Walker said.

“For the others that are coming [from 1 July 2019], it is a matter of trying to understand, of your clients, who are likely to be involved, and get them to starting to collect the information today.”

ITP director Amanda Sheaves said awareness among clients continue to be low, an observation similarly shared by Direct Management director Diane Lucas last year.

“Well, this is still an area wherein clients don’t realise they have an obligation, so we do appreciate the lists that come from the ATO. It gives us a starting point to chase people and get them in,” Ms Sheaves said.

“Certainly this year, more than any other years, we are going to be proactive this year in having that in front of us and putting it in front of people.”

Advisers urged to proactively engage on TPRS awareness
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