RS ROY SPAGNOLO & ASSOCIATES Chartered Accountants The ATO is identifying contractors who fail to report all income through data matching. Contractors must declare all earnings, including payments reported by businesses under the Taxable Payments Reporting System (TPRS). Businesses in industries such as construction, courier, TPP cleaning, IT, road freight, and security must report contractor payments via a Taxable Payments Annual Report (TPAR). If a contractor omits this income, the ATO may request an amendment or conduct a review or audit, with penalties and interest potentially applying. A CHARTERED ACCOUNTANTS AUSTRALIA + NEW ZEALAND 193 Yambil Street, Griffith NSW 2680 Ph: 6964 4400 | www.royspagnolo.com.au A Like Us On facebook f 235751 RS ROY SPAGNOLO & ASSOCIATES Chartered Accountants The ATO is identifying contractors who fail to report all income through data matching . Contractors must declare all earnings , including payments reported by businesses under the Taxable Payments Reporting System ( TPRS ) . Businesses in industries such as construction , courier , TPP cleaning , IT , road freight , and security must report contractor payments via a Taxable Payments Annual Report ( TPAR ) . If a contractor omits this income , the ATO may request an amendment or conduct a review or audit , with penalties and interest potentially applying . A CHARTERED ACCOUNTANTS AUSTRALIA + NEW ZEALAND 193 Yambil Street , Griffith NSW 2680 Ph : 6964 4400 | www.royspagnolo.com.au A Like Us On facebook f 235751