The ATO have recently introduced additional reporting requirements relating to businesses in the building and construction industry with regard to payments made to contractors and subcontractors.
If your business fits the ATO criteria of “building & construction industry” you may be affected by these reporting rules.
Click here for further information in detail.
It is important for businesses with numerous payments to contractors and subcontractors to begin planning for these rules from now.
If you have any questions concerning this matter, please do not hesitate to contact us.