If you are an Australian business and more than 50% of your business activity occurs within the building and construction industries, you need to produce the Taxable payments annual report at the end of each financial year and submit it to the ATO. This report declares all of the payments you have made to suppliers for building and construction services throughout the financial year.
To be able to produce this report, you'll need to have set up MYOB Essentials for reportable contractor payments.
Let's take you through how to produce the report.
1. Display the taxable payments report
Go to the Reports menu and choose All reports then click the Taxable payments annual report. If this report isn't listed, make sure you've set up MYOB Essentials for producing this report.
The report appears in your browser. Note that you’ll need to have selected the Taxable payments reporting option on your Business details page for this report to be available.
First, you’ll need to check that the information included on this report is correct. When you’re satisfied, you can create an electronic version of the report that you can lodge online with the ATO.
2. Check the report information
The Taxable payments annual report displays all reportable transactions over the selected financial year, organised by supplier, along with the total amount of reportable transactions for each supplier.
If you need to remove a transaction from this report, click on it to open the transaction page and deselect the Reportable option, then click Save.
If you need to remove a supplier from the report, click the supplier’s name to open their supplier record and deselect the Reportable option.
You can include additional payments on this report by opening the payment transaction page and choosing the Reportable option. You can also add all the payments made to a supplier by selecting the Reportable option on the Contacts page.
For more information about reportable payments, see Reportable contractor payments.
When you’re satisfied that the report includes all of the required transactions, click Next.
3. Create an electronic file for online lodgement
- Choose whether you lodge your own Taxable payments annual report with the ATO or whether you use a third party (for example, your accountant or bookkeeper) to lodge the report for you.
- Enter your business details, including your business’s address, your APN and the contact details of the person at your company lodging the report.
If you are using a third party to lodge the Taxable payments annual report, enter this information for them, as well.
- Click Create TPAR file. This creates an electronic file that you can save to your computer’s hard drive. If prompted, make sure to take note of where you save this file.
Use this file to lodge your report electronically through the ATO’s online portal. For more information on lodging electronically, see the ATO website.
Don't open the TPAR file
The TPAR file format is unique and only intended for uploading to the ATO. This file cannot be opened for viewing or editing.