Pacific Accounting’s September newsletter highlights several important updates for Office Relocation, ATO Obligations and Receipt FAQ. There are certain ATO obligations that require details from your invoices and receipts. By suppling these to your accountant they can prepare your BAS, TPAR, Fuel Tax Credit calculations and of course your business and personal Tax Returns.
Taxable Payments Annual Reporting (TPAR) is due to be lodged with the ATO by 28 August 2023, and businesses may be required to report payments to contractors or subcontractors during the financial year for services such as building and construction, cleaning, road freight and courier, information technology, and security, investigation, or surveillance. If Pacific Accounting manages your Xero subscription, you don’t need to do anything, and the increase will be passed on to you in your billing from September onwards.
Key dates for September 2023 include August monthly Activity Statement lodgement & payment due, 25 September 2023 Public Holiday Lodge PAYG withholding payment summary annual report if prepared by a registered BAS Agent or tax agent. By staying informed and addressing these changes, businesses can ensure their continued health and growth.
