Australia: CVSP Payments Now Reported to ATO Annually
What this means for you
If you receive a Construction Visa Subsidy Program payment as an ABN holder in Australia, this income will now be reported directly to the ATO, which may impact your tax obligations.
Now
Government entities in Australia report grants, including Construction Visa Subsidy Program (CVSP) payments made to ABN holders, to the ATO annually via a Taxable Payment Annual Report (TPAR) by 28 August. If you receive a CVSP payment as an ABN entity, it will be reported to the ATO.
Government entities in Australia now report grants, including payments from the Construction Visa Subsidy Program (CVSP) made to ABN holders, to the Australian Taxation Office (ATO).
This reporting is conducted annually via a Taxable Payment Annual Report (TPAR), with a deadline of August 28. Consequently, any CVSP payment received by an ABN entity will be officially reported to the ATO.
Source
migration.wa.gov.au ↗