Changes to TPAR in 2017/18 Financial Year – Sybiz Vision (and from 2019/20) (Updated)

Australian businesses that have made payments to contractors in certain industries during the financial year need to lodge a Taxable Payments Annual Report (TPAR) by 28 August each year.

Sybiz have made this a simple process in Sybiz Vision and you can export a TPAR directly from Sybiz Vision and upload the file to the Australian Tax Office.

As of 2017/18 financial year, the accepted file formats are set to change.  It is important to understand that Sybiz Vision Classic will not accommodate these changes.  So, if you are using Sybiz Vision Classic (V12.80 or earlier) and need to lodge a TPAR, you will need to upgrade to the new version of Sybiz Vision (Sybiz Vision.NET) before June 30, 2018.

From the ATO Website: https://www.ato.gov.au/Business/Reports-and-returns/Taxable-payments-annual-report/

“You may need to lodge a Taxable payments annual report (TPAR) by 28 August each year if you are a:

• business providing:
  • building and construction services
  • cleaning services – for contractor payments from 1 July 2018 (first report due by 28 August 2019)
  • courier services – for contractor payments from 1 July 2018 (first report due by 28 August 2019)
  • road freight services – for contractor payments from 1 July 2019 (first report due by 28 August 2020)
  • information technology (IT) services – for contractor payments from 1 July 2019 (first report due by 28 August 2020)
  • security, investigation or surveillance services – for contractor payments from 1 July 2019 (first report due by 28 August 2020)”

What do you need to do?

If this applies to you then there are changes required in your systems setup (if not already doing TPAR), and changes to your business processes to ensure Sybiz Vision will do your TPAR reporting.

Please contact us ASAP on on 1300 720 767 to discuss what is required in Sybiz Vision to enable this reporting from the 1^st July.