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    Global Daily Tax News, Australia Issues Reminder On TPAR Penalties, (Feb 29, 2024)

    The Australian Taxation Office has issued a warning to businesses that have failed to comply with their Taxable Payments Annual Report obligations of the tax agency's intention to apply penalties on March 22.

    Businesses who pay contractors for certain ...

    The Australian Taxation Office has issued a warning to businesses that have failed to comply with their Taxable Payments Annual Report obligations of the tax agency's intention to apply penalties on March 22.

    Businesses who pay contractors for certain services must lodge a TPAR by August 28 each year.

    The ATO issued a statement on February 27, 2024, warning businesses that it intends to apply penalties for failure to lodge a TPAR for 2023 or previous years; or where a business has received three reminder letters about an overdue TPAR.

    About 11,000 businesses were penalized last year, being charged about AUD18m in penalties.

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