Not sure if TPAR applies to me
Hey! I’m pretty new to the sole trader thing and still learning as I go. I saw something about TPAR in Solo but not really sure what it is or if I need to do anything with it. Can someone point me in the right direction?
Great question, and welcome to the solo biz life! 🙌
If you pay contractors, there’s a good chance the ATO wants to hear about it. TPAR (Taxable Payments Annual Reporting) is a yearly report that some businesses need to lodge, showing how much they’ve paid contractors for their services.
It’s mostly required in industries like building and construction, cleaning, courier services, and a few others.
But no stress, Solo’s got your back. When you set up your business in the app, Solo checks your industry and will prompt you if TPAR might apply to you. It even helps you track relevant expenses throughout the year so tax time doesn’t turn into panic mode.
Here’s a helpful little guide we wrote if you want more information TPAR Made Simple | MYOB Community
