On Mar. 4, 2025, AST Tax said it will impose penalties on businesses for overdue TPAR.
Penalties will be issued from Mar. 22, 2025 to businesses that have not lodged their TPAR from 2024 or previous years, and have received 3 reminders re overdue TPAR.
If businesses do not need to lodge TPAR, they shall submit non-lodgment advice form.
On Aug. 21, AST Tax discussed system re reporting, deadline re same.
AST Tax discussed taxable payments reporting system which is helping AST Tax expose missing income as well as keeping things fair for businesses; issued reminder re same.
Follows AST Tax Jun. 2023 gave unique opportunity to small businesses, see #175300.
Also follows AST GVT Mar. 2022 cash flow support, red tape reduction, see #132903.
Reminder
Reminded businesses who are required to lodge a taxable payments annual report (TPAR) to do so by Aug. 28, 2023; AST Tax said not reporting payments to contractors as well as deliberately under reporting income makes it unfair for honest businesses.
It may also be seen as a red flag and could prompt closer scrutiny from the AST Tax.
Warning
AST Tax warned that it uses a range of information in TPAR to check for red flags.
Red flags include not including income; not lodging tax returns or activity statements.
In addition, includes overclaiming GST credits, mis-using Australian business numbers.
AST Tax also stated it recently issued more than 16k penalties for businesses who did not lodge their TPARs for previous years, despite receiving multiple reminders.
It also said average penalty for not lodging was approximately AUD 1,110; it is getting harder for businesses to hide from AST Tax, i.e. by using cash payments to avoid tax.
Businesses asking for cash and not declaring it to AST Tax will receive a please explain from AST Tax and they will be penalized; it is not a matter of if, it is a matter of when.
Effectiveness
Deadline above for reporting is Aug. 28, 2023.
Mar. 2025 Overdue TPAR Penalties
On Mar. 4, 2025, AST Tax said it will impose penalties on businesses for overdue TPAR.
Penalties will be issued from Mar. 22, 2025 to businesses that have not lodged their TPAR from 2024 or previous years, and have received 3 reminders re overdue TPAR.
If businesses do not need to lodge TPAR, they shall submit non-lodgment advice form.
