The first Taxable payments annual report for businesses in the Building and Construction Industry is due by 21 July 2013 for payments made in the 2012-13 financial year. In this first year, if you lodge your activity statement quarterly, you can lodge by 28 July 2013. Who needs to report? From 1 July 2012, you need to report if all of the following apply: • you are a business that is primarily in the building and construction industry • you make payments to contractors for building and construction services • you have an Australian business number (ABN). You are considered to be a business that is primarily in the building and construction industry if any of the following apply: • in the current financial year, 50% or more of your business activity relates to building and construction services • in the current financial year, 50% or more of your business income is derived from providing building and construction services • in the financial year immediately before the current financial year, 50% or more of your business income was derived from providing building and construction services For more information please refer to the attached fact sheet from the Tax Office. ato.gov.au/content/00313486.htm?headline=taxablepayments&segment=home If you have any questions regarding the above, please do not hesitate to contact one of our team members
Posted on: Mon, 17 Jun 2013 04:07:20 +0000
Trending Topics
Recently Viewed Topics
© 2015