From 1 July 2012, businesses in the building and construction industry are required to report the total amount they have paid to each contractor who provided them with building and construction services during year.
Businesses need to report the contractor’s Australian business number (ABN), name and address, the total amount paid for the year and the total GST included in that amount. (At this stage they don’t need to know what your subbies had for lunch or whether they are into dirtbikes or jet skiing.)
The first annual report is due by 21 July 2013. However for the first year the ATO are allowing an extra week if you happen to lodge your BAS’s quarterly, which means a due date of 28 July 2013.
If you need a paper copy of the form then just give Tate a call on ph 4123 0335.
