New Relevant Contracts Tax (RCT) system to be introduced in 2012
Work is well advanced on developing a new system, which is expected to be introduced on 1 January 2012. It will be subject to a commencement order to be signed by the Minister for Finance.
These changes will affect all principal contractors and subcontractors performing relevant operations in the construction, forestry and meat processing sectors.
If you have ceased as a principal contractor you should contact your local Revenue district immediately to cancel your registration. If however, you are continuing to operate as a subcontractor, please advise your Revenue district that you are applying for cancellation as a principal only.