Contractors in the Building and Construction Industry

For financial year 2012-2013 the ATO require businesses in the building and construction industry to report on payments to all sub-contractors.

An annual return must be made by the entity making payments to the sub-contractor(s) showing the following information in relation to each payee

  • ABN
  • Business or individual’s details
  • Tax withheld where no ABN is provided
  • Amount of GST
  • Total payment

The ATO have released guidelines in advance of the 2011 year end including a sample submission form.  Go to and click on the link to ‘Taxable Payments Annual Report‘ to view the sample form.

Compliance Essentials can assist your business to review systems and process; contact us at 1300 602 880 to arrange a no obligation discussion