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TPRS Exemptions: Legislative Instrument

Posted by Northadvisory on April 5, 2019

Legislative Instrument Taxable Payments Reporting System – Reporting Exemptions for Certain Entities Determination 2019 and Explanatory Statement (TPRS 2019/D1) regarding the de minimus exemption for entities required to lodge Taxable Payments Annual Reports (TPAR) under amendments enacted by the Sch 2 Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Act 2018 and Sch 2 Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Act 2018 have been issued for comment. Affected entities are:

  • cleaners
  • couriers or road freight service providers
  • security, investigation or surveillance service providers, and
  • IT service providers.

The legislative instrument when finalised will replace, in the same terms, the determination that was taken to have been made by the Commissioner on enactment of the new reporting provisions. Comments are due by 15 April 2019, the final instrument is proposed to commence on 1 July 2019.

If you have questions on any of the above issues raised, please do not hesitate to contact us.

Kim Edwards
Chartered Tax Adviser
Chartered Accountant
T: 02 9984 7774
E: kime@northadvisory.com.au