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Chan & Naylor Business Accountants in Sydney advise clients on their TPAR obligations

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We, Chan & Naylor Business Accountants in Sydney, are now advising our clients involved in the cleaning and courier industries to prepare for their obligations for the proposed Taxable Payments Annual Reporting or TPAR.

The Treasury Laws Amendment Bill 2018 has been proposed to the Parliament in February to extend the TPAR system to cleaning and courier businesses following the extension for businesses in the building and construction industries. 

If the bill is passed, the TPAR will be implemented on the 1st of July. The TPAR was first launched for the construction industry and because of its success in managing invalid ABNs and making sure contractors are fulfilling their obligations, the same results are hoped for cleaning, courier and other at-risk businesses. Problems around GST obligations, invalid ABNs and other considerations are expected to be solved because of the TPAR as well. 

Chan & Naylor will set up the software to capture the required information for proper reporting for clients who have subcontractors in the cleaning and courier industries. It is a new concept but we will just assess our client base and decide which of our clients will be affected – such as those who have contractors in the cleaning and courier industries. 

To know if you will be affected by the TPAR and whether or not you need to report, what payments need to be and need not be reported, contact Chan & Naylor Business Accountants 

If you would like to know more about your taxes and how you can reduce them, you can click here to know more about Chan & Naylor services. You can leave your details here and we can schedule you for a free consultation. We’ll contact you to explain more. 

Whether you are a beginner, seasoned investor or business owner, our property and business tax accountants can give you guidance to maximise the financial areas of your life. We can also give you an integrated and tailored solution for your superannuation, taxation, property investment, asset protection, estate planning and more.  

Click here to schedule a chat or visit any of our local offices near you. 

If you like what you are reading, subscribe to our newsletters now at www.chan-naylor.com.au or follow our Facebook page: https://www.facebook.com/chanandnayloraustralia 

Chan & Naylor Group has nationwide offices in Brisbane and Capalaba in Queensland, Melbourne and Moonee Ponds in Victoria, East Perth in Western Australia, and South West Sydney, Parramatta, Pymble, North Sydney, and Sydney in New South Wales. 

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