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  • Business transactions through payment systems

    New legislation requires organisations that process transactions for their business clients through an electronic payment system, to report these transactions in a Business transactions through payment systems report.

    The legislative requirement is for reporters to submit an annual report by 31 July each year. Reporters can choose to provide the required data more frequently during the year through monthly reporting or by providing multiple months per report. The option for earlier reporting will start in January 2018.

    The information reported will be used to:

    • pre-fill tax returns to make it easier for individuals and businesses to lodge
    • ensure businesses comply with their tax obligations, including lodging their tax returns and reporting their income.

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    Last modified: 17 Nov 2017QC 53114