• Taxable payments reporting – building and construction industry

    Overview

    Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year.

    You need to report these payments to us on the Taxable payments annual report.

    To make it easier to complete the annual report, you may need to check the way you currently record your contractor payment information.

    The information reported about payments made to building and construction contractors is used in our data matching program to detect contractors who have not either:

    • lodged tax returns
    • included all their income on tax returns that have been lodged.

    Find out about:

    See also:

    Reporting

    Work out if you need to report

    You need to report if all of the following apply:

    • you're a business that is primarily in the building and construction industry
    • you make payments to contractors for building and construction services
    • you have an Australian business number (ABN).

    You're considered to be a business that is primarily in the building and construction industry if any of the following apply:

    • in the current financial year, 50% or more of your business income is derived from providing building and construction services
    • in the current financial year, 50% or more of your business activity relates to building and construction services
    • in the financial year immediately before the current financial year, 50% or more of your business income was derived from providing building and construction services.
    • Last modified: 30 Mar 2016QC 27311