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2018-19 Budget Black Economy Measure – Further expansion of the taxable payment reporting system

The Government has released for public consultation exposure draft legislation and explanatory memorandum to further expand the taxable payment reporting system (TPRS) to three new industries: ‘road freight’, ‘information technology’, or ‘security, investigation or surveillance’, to ensure payments made to contractors in these industries are reported to the Australian Taxation Office (ATO).

The ATO has released a draft determination and guidance material that provides further detail on the operation of the TPRS measure for feedback on ATO’s Let’s Talk page. Consultation on the draft determination, accompanying explanatory statement and guidance material closes 17 August 2018.

The information on the TPRS obligations and reporting requirements that currently apply to the building and construction industry is available on the ATO website. As this information only applies to the building and construction industry it is indicative only, of similar obligations which would apply to the three new industries.

Stakeholders are invited to comment on the exposure draft legislation and explanatory material. The closing date for submissions is Friday 17 August 2018.

Responding

You can submit responses to this consultation up until 17 August 2018.

Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

How to respond

Post

Address written submissions to:

Mirren Allica
Black Economy Division
The Treasury
Langton Crescent
PARKES ACT 2600