TPAR Reporting

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  • Question
  • Updated 2 months ago

ATO in their infinite wisdom have put me on the TPAR system
commencing July 2019

I had a read on ATO website, but still a little confused
https://www.ato.gov.au/Business/Reports-and-returns/Taxable-payments-annual-report/

Website reads like only applies to Services (ie labour charges), not goods. Is this correct ?
Reporting refers to payments actually received (ie like cash accounting, not accruals)

I am using accruals accounting, so hypothetically....
Invoices issued in June 2019, payment received in July 2019 .... Is TPAR reportable ?

Just want to get it right so I can generate correct reports from my RA Premier 2019

Thanks for any assistance 

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Steve Cook

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Posted 2 months ago

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Kris Williams

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My understanding is that it’s for subcontractor payments, so no materials only labour. Yes only on cash basis
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Adrian

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Hello Steve

TPAR in Reckon will report the transactions on what has been paid. even though  other reporting is set to accrual basis.

Adrian