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NatRoad on TPRS extension

The Taxable Payments Reporting System (TPRS) will be extended to include the road freight industry with businesses needing to start record payments to contractors from 1 July 2019 for an August 2020 report, according to the National Road Transport Association (NatRoad).

In October 2018, the taxable payments reporting system (TPRS) was extended to the courier industry, with a retrospective start date of 1 July 2018.

“What this means is courier and road freight businesses will need to report payments made to contractors to the Australian Tax Office,” said NatRoad CEO, Warren Clark.

“This will allow the ATO to check that contractors are complying with their tax obligations.

“NatRoad has previously sought that the TPRS scheme for road freight and courier services both operate from 1 July 2019 to avoid confusion as to the dividing line between road freight and courier services, a matter that remains unsolved.

“Whilst NatRoad strongly opposes those who operate outside of the regulatory system, the piling up of more and more laws and associated red tape is a critical issue for the heavy vehicle industry. The red tape burden must be cut, not added to. The Australian regulatory burden and high company tax rates are strangling Australian businesses.

“Onerous reporting obligations must be closely monitored and if there are more efficient ways to fight the black economy they must be introduced.

“The black economy creates an uneven playing field. The vast majority of businesses are honest and compliant but are in effect being punished with additional reporting cutting into their already tight profit margins, just so that the government can catch the crooks.

“When you are fighting against activities that cost the Australian taxpayer between $25-50 billion a year, more than an amping up of the reporting system is needed.  For example, NatRoad supports designing a new regulatory framework for the Australian Business Number (ABN) system and targeted measures aimed at combating illegal phoenixing. The TPRS must not be the only weapon that is used,” he said.

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