Reportable payments system to be extended • The Accounting Division
863
post-template-default,single,single-post,postid-863,single-format-standard,bridge-core-1.0.5,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,qode-content-sidebar-responsive,qode-theme-ver-18.1,qode-theme-bridge,wpb-js-composer js-comp-ver-6.0.2,vc_responsive

Reportable payments system to be extended

TPRS extended

The black economy is a significant growing economic and social issue in Australia. By some estimates, the size of the black economy is around 3% of GDP or around $50 billion. In response, the government will be extending the existing Taxable Payments Reporting System (TPRS) which currently only applies to the building and construction industry to addition high-risk industries including the courier and cleaning industries ahead of a further extension into road freight, IT and security industries.

We can help you understand how you will be affected.