Small Businesses operating in the Cleaning and Courier Industries
The taxable payments reporting system is applicable to you as from 1 July 2018.
Previously only businesses operating in the construction industries were affected.
What does this mean?
You need to keep a record of the subcontractors you pay during the year and submit their details to the ATO by August 2019 for the 2018 year. Your accounting software package should be able to do this.
Should you need assistance in setting this up, please contact Neil from Accolade Accounting on 0421 824 137.