Who needs to report?

–    You are a business in the building and construction industry

–    You make payments to contractors for building and construction services

–    You have an ABN

Details to report:

The details you will need to report to the Australian Taxation Office should be contained on invoices that you receive from contractors used:

–    The contractors ABN

–    Name and address

–    The gross amount you paid the contractor during the year including GST

–    Total GST included in the amount

–    Total tax withheld where no ABN has been quoted

You should also ensure that where the invoice is for materials and labour the full amount should be recorded as a taxable payment.

Payments you do not report:

–    Payments that have been for materials only

–    Unpaid invoices at 30 June each year.  For the current reporting period you will need to include June 2012 invoices that were not paid until July 2012 or later and any received in June 2013 that were still outstanding would not be included.

–    Payments included by employees on PAYGW summaries

–    Payments made by home owners for private and domestic projects.

How to lodge the report:

The report will be able to be done both on line and on paper for the current year. The paper report must be received by the Australian Taxation Office by the due date.