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Agents will now have greater visibility over their clients’ taxable payments annual report obligations through the new online service for agents.
The Tax Office has now added new functionalities on online services for agents in relation to TPAR, with agents now able to view due lodgements and a list of reports lodged.
Other benefits include no longer needing to lodge by paper; being able to amend lodged reports; and have up to 20 payees added to one report, with the ability to lodge multiple reports.
The update comes after the ATO promised an online solution for TPAR earlier in the year when it first launched its new online services for agents.
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.
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.
BAS agents and bookkeepers have been urged to help their clients get ready by ensuring they keep good records of payments made to contractors.
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