The ATO has announced they will be extending the due date for the Taxable payments annual report.

Each year businesses in the building and construction industry that pay contractors for building and construction services are required to lodge a Taxable payments annual report with the ATO. In previous years the report was due 21 July, but from 2015 the report is due 28 August. The change in the due date was made after the ATO heard concerns from people in the industry about the difficulty in lodging the annual report by 21 July. The extended due date was also a recommendation of the recent Board of Taxation review of tax impediments facing small business.

If you require further information about the taxable payments reporting system, please refer to  ato.gov.au/taxablepaymentsreporting