Lever Group accounting news and tax updates

Taxation Services

We regularly deal with a broad range of personal and corporate taxation issues and make a point of understanding the individual needs of every client. Whether you need advice on company tax, personal tax effectiveness or indirect taxation including payroll tax and GST, our team will identify the best solutions for you.

Our taxation services include:

  • Preparation and lodgement of taxation returns
  • Capital gains taxation planning
  • Fringe benefits tax returns
  • Land tax returns
  • Payroll tax returns compliance
  • Tax planning and minimisation
  • PAYG and superannuation compliance

CHANGES TO BUSINESS PRACTICES AND TPAR

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COVID-19 has forced businesses to adapt their practices to cater for social distancing measures and sanitary precautions. As a result, many businesses have taken on contractors to assist with these changes.

Businesses who have made payments to contractors in the last year may need to lodge a Taxable payments annual report (TPAR) by 28 August. This applies to the following contractor services:

  • building and construction,
  • courier, delivery or road freight,
  • cleaning,
  • information technology,
  • security, surveillance or investigation.

In response to COVID-19 restrictions, providing additional cleaning and courier services to customers have become particularly popular for businesses. For example, businesses with limited access to physical stores due to social distancing restrictions may have paid contractors providing courier services to deliver goods to customers on behalf of the business. If the payments received by the business for courier or cleaning services provided by contractors amounts to 10% or more of their total GST turnover, they will be required to complete a TPAR. Businesses can still lodge a TPAR even if they don’t think they need to or if they are unsure if they meet the 10% GST turnover threshold.

Businesses providing courier or cleaning services using their existing employees and not contractors will not need to lodge a TPAR.

TPAR lodgements can be made using SBR-enabled business software, the ATO Business Portal, through a tax or BAS agent, or by ordering a Taxable payments annual report (NAT74109) paper form.

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