From 1 July 2012 businesses in the Building and Construction industry will be required to report to the ATO annually payments made to contractors.

The report must contain:

• The contractor’s name;
• The contractor’s ABN;
• The contractor’s address (if known);
• The total amount paid or credited to the contractor over the income year;
• Whether any GST has been charged;  
• Any other information the Commissioner may require.

For more information visit  Taxable payments reporting - building and construction industry or contact Terry Dewing on 9526 1211.