The ATO has advised that it is writing to businesses in the building and construction industry who have not lodged their 2013-14 Taxable payments annual report. It said the letter will generally be sent to businesses and will remind them that the report is now overdue. Taxable payments annual reports were due by 21 July. The ATO said these businesses need to lodge their report immediately to avoid possible penalties. The ATO said it needs to be informed that an entity does not need to report if the business is no longer in the building and construction industry or did not pay contractors during 2013-14.
[LTN 228, 25/11/14]