The Tax Office has announced that it is contacting certain businesses in the building and construction industry that have lodged an annual “taxable payments report” about some of the information that has been provided.
If your business is looking to put on more staff, first of all: congratulations! But secondly, a warning …
The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get many employers into unforeseen hot water.
Employers in the building and construction industry need to be aware of a significant change in reporting requirements for your ‘taxable payments annual report’.