TPAR for Government Grants and Payments
From 1 July 2017, government entities at federal, state, territory and local levels need to report total payments made to a business for providing services.
Government entities at the federal, state and territory levels also need to report total grants paid to entities with an ABN. The first report will be due on 28 August 2018.
In relation to Government grants and payments, software needs to create a file that reports in accordance with the following:
Payment type, Date of grant payment, Name of grant or grant program, Email address and Statement by a supplier.
These fields appear to be additional to those fields already specified under TPAR.
While AR can produce a report for contractor payments ic cannot do so for Grants Reporting.
When will the software be updated to comply wit the requirements of the ATO?
Cheers
David
"TAXABLE REPORTING (TPAR) FOR GOVERNMENT GRANTS"
