What documentation will I receive from my contractor?

You will receive a ‘payment and deduction’ statement, sometimes called a PDS, every time you are paid. The statement shows the contractor’s name, details of the payment(s) made, the cost of any materials incurred and the deduction(s) made from the payment(s). It is important that you retain these statements (as well as details of your expenses) as you will need them to do your tax return.