The Blogs that appear on this page may be sourced from outdated material so please seek appropriate professional advice. The blog material is in no way intended to be personal financial planning advice.

Catherine's Chat

Wholistic Financial Solutions provides information and updates regarding the property investment industry. Learn more from Catherine's chat here.

2012 Tax Changes - Building Industry Reporting

Saturday, July 28, 2012

Building industry reporting

If you’re a business or entrepreneur operating in the building or construction industries, then you’ll need to start reporting on every payment made to contractors in the New Year.

As for who needs to report – any business primarily operating in the building and construction industries, including businesses making payments to contractors. If more than half of your business activity relates to building and construction, then you need to start reporting.

The details you need to report for each contractor include:

  • ABN
  • Name
  • Address
  • Gross amount paid in the financial year
  • Total GST included in the gross amount paid

You’ll also need to report worksheets and other records, including payment details for work done in relation to any sort of building or structure. That includes construction, demolition, design, destruction, erection, improvements, maintenance and repair.

Contractors who pay other contractors may need to fill in all this information as well.

Businesses will need to make this report by July 21 each year, but don’t fear – the first report isn’t due until July 2013.

margarita machines commented on 15-Aug-2012 01:24 AM
I'm not sure exactly why but this web site is loading extremely slow for me. Is anyone else having this issue or is it a issue on my end? I'll check back later on and see if the problem still exists.
commercial greenhouses commented on 15-Aug-2012 08:07 AM
Good way of explaining, and nice article to take facts regarding my presentation topic, which i am going to deliver in school.
SEO Toronto commented on 17-Aug-2012 09:45 PM
My brother suggested I might like this blog. He was totally right. This post actually made my day. You can not imagine simply how much time I had spent for this info! Thanks!
different kinds of camel cigarettes commented on 18-Aug-2012 06:04 AM
Hi friends, its great paragraph on the topic of teachingand fully defined, keep it up all the time.
cheap dunhill cigarettes commented on 19-Aug-2012 12:07 AM
Wow! In the end I got a webpage from where I can actually obtain helpful facts regarding my study and knowledge.
cheap cigarettes online newport commented on 19-Aug-2012 02:22 AM
Heya i'm for the first time here. I came across this board and I in finding It really helpful & it helped me out a lot. I'm hoping to give one thing back and aid others such as you helped me.
lucky strike filters commented on 26-Aug-2012 06:16 AM
Hi there Dear, are you genuinely visiting this web page on a regular basis, if so then you will absolutely take pleasant knowledge.
Cecil commented on 05-Sep-2012 12:01 PM
Good day I am so glad I found your website, I really found you by error, while I was researching on Yahoo for something else, Nonetheless I am here now and would just like to say thanks for a tremendous post and a all round enjoyable blog (I also love
the theme/design), I don't have time to read through it all at the moment but I have bookmarked it and also added in your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the superb work.
regal coupons commented on 06-Sep-2012 04:37 AM
Heya i'm for the first time here. I found this board and I find It truly useful & it helped me out a lot. I hope to give something back and help others like you helped me.
Marsha commented on 06-Sep-2012 02:32 PM
You have got amazing thing in this case.
Shaun commented on 06-Sep-2012 04:44 PM
Just needed to say I am pleased that i happened onto your site.
Meridith commented on 19-Sep-2012 05:33 AM
Truly instructive....look forth to visiting again.
how to tell a guy likes you at a party commented on 03-Oct-2012 08:37 AM
Thanks for finally writing about >2012 Tax Changes - Building Industry Reporting <Liked it!
reverse phone lookup commented on 21-Oct-2012 05:21 AM
I visited tons of website in spite of this I conceive this one holds
something special in it in it
online marketing commented on 21-Oct-2012 05:24 AM
Good day! I know this is kinda off topic but I was wondering which blog platform are
you using for this site? I'm getting tired of Wordpress because I've had problems with hackers and I'm looking at options for another platform. I would be awesome if you could point me in the direction of a good platform.
how to lose weight fast commented on 23-Oct-2012 02:55 PM
I don_t typically comment on that the other
hand I gotta say thankyou for the post on this amazing one : D.
Sex Chat Rooms commented on 24-Oct-2012 04:03 PM
Thanks for sharing your thoughts on Accountants Canberra. Regards
buy ugg boots commented on 31-Oct-2012 06:58 AM
a niche in leopard pairs of christian louboutin slingback pumps with qqua retail for under 100 Etienne Aigner Drew Women"s Classic Pumps, Blue , customizedCheap UGG Boots for cheap nyc Brown 7 Bcbgeneration High Heel Opentoe Woven Platform Pump A gleaming O-ring gathers a soft suede knot at the peep toe of a demure platform pump. Color(s): black, capsicum, vintage mauve. Brand: Naturalizer. Style Name: Naturalizer "Dalida" Pump. Style Number: 385606. Manufacturer part number ... looked very worried because hes homeperhaps a spectacular tour of Latin America. FindUgg Boots For Women green Sell Cheap UGG Boots Boutique 9 Alesandra High Pumps Women in Colombia is so sexy, which emerged.
Tsubo brand was recorded in the second quarter and did not have a significant proportion of net sales for the quarter. Discount christian louboutin pumps was
Steven commented on 06-Nov-2012 11:15 PM
I benefit from reading your web sites. Thanks a ton!
Cheap Uggs commented on 11-Nov-2012 04:39 AM
Buy Yellow with teal UGG Boots Size 7 Enjoy 1970s style paired with modern craftsmanship in the OTBT Shoshone platform shoe. This clog-inspired women"s wedge mary jane has a high-quality leather upper, open sides and an adjustable ankle strap for a secure fit. A leather lining ... Uggs 40 s inspired elegant uggs boots clearance Approach every important day accompanied by the Etienne Aigner Yelle pump. This versatile, professional women"s dress shoe has a smooth leather upper atop a stacked heel and platform for elevation that commands respect. A lightly cushioned ...

Post a Comment

Captcha Image

Trackback Link
Post has no trackbacks.

Discover How to Build A Property Portfolio The Right Way Right From The Start

Recent Posts