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Stay Compliant with Endurego Tax: ATO’s Final Warning on TPARs

Attention, Inner West Sydney businesses! The ATO is set to enforce penalties for overdue Taxable Payments Annual Reports (TPAR) starting March 22. Endurego Tax Accounting Services urges you to understand the consequences and take immediate action.

ATO’s Strong Stand about TPAR

As of March 22, 2024, the ATO will penalize those who receive three non-lodgement letters regarding overdue TPARs and fail to submit 2023 or prior year reports. Last year, the ATO imposed $18 million in penalties on over 11,000 businesses.

Your Action Plan

Endurego Tax advises tax professionals to check TPAR obligations through Online Services for agents. For those with overdue TPARs, use SBR-enabled software or Online Services for agents for swift lodgment. Even if your client doesn’t require TPAR submission, submit a non-lodgement advice (NLA) form to avoid unnecessary contact.

TPAR Essentials

The deadline is August 28 each year, reporting payments to contractors or subcontractors during the financial year. Beyond compliance, submitting TPAR data helps level the playing field for businesses promoting transparency.

Act Now with Endurego Tax

Don’t risk penalties—act now with Endurego Tax Accounting Services. Check, lodge, or inform the ATO as needed. Stay compliant, avoid unnecessary contact, and contribute to a fair business environment.

Stay informed with Endurego Tax: Your partner in tax compliance and business success.