Contractors omitting income

News Tax & Compliance Guidance

Date: 21st Feb, 2025 Source: Australian Taxation Office (ATO) Country: Australia Original Source

Brief

On 21/02/2025, the Australian Taxation Office (ATO) issued an update regarding Contractors omitting income. This update emphasizes the importance of including all contractor payments in tax returns to avoid penalties and interest, with businesses required to lodge a Taxable Payments Annual Report (TPAR) for specific services such as building, construction, courier, cleaning, IT, road freight, security, investigation or surveillance.

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Australian Taxation Office (ATO)

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Contractors omitting income

Brief

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Contractors omitting income

Brief

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