You may not receive a payment summary from your employer if they are reporting through Single Touch Payroll (STP).
Your payment summary information will be available in ATO online services through myGov. It is called an ‘income statement’.
If you use a registered tax agent, they will receive the information they need to complete your tax return. This has not changed.
Not all employers are reporting through STP. You will continue to get a payment summary from any employer who has not yet started STP reporting.
About your income statement
You will need a myGov account linked to ATO online services to access your income statement:
- Your income statement will show your year-to-date salary and wages, the tax that has been withheld and the reported amounts of your employer super.
- Your income statement is the equivalent of a payment summary (which some people still call a group certificate).
- This information will be updated each time your employer pays you. This is similar to the information you would normally see on your payslip.
- After the end of the financial year, your income statement will have the information you need to prepare your tax return when it has been finalised by your employer.
How to access your income statement
Follow these instructions once your myGov account is set up and linked to ATO online services:
- Log in to myGov using your email address or mobile phone number.
- Select ATO online services.
- Click on My profile at the top of the screen.
- Select My employment and then Income statement.
On the screen you will see the income you have earned from your employer or employers for the financial year, and the tax that has been withheld.
Using your income statement for your tax return
Your income statement information is available in ATO online services. You can view this information at any time throughout the financial year – once your income statement information is finalised by your employer it will be identified as ‘Tax ready’.
To complete your tax return, you should wait until the information is ‘Tax ready’.
From 1 July, your STP income statement information will be pre-filled into myTax even if your employer hasn’t finalised it yet. If your income statement information isn’t finalised yet, you will see a red box with the word ‘Required’ next to your employer’s name in myTax. You will need to review this pre-filled information and confirm whether you wish to use it before you submit your tax return.
If you choose to use information from an un-finalised income statement to lodge your tax return, you will need to acknowledge that:
- your employer may finalise your income statement with different amounts
- you may need to amend your tax return and additional tax may be payable.
If you use a registered tax agent, they will have access to the information they need to complete your tax return.
You may continue to receive payment summaries from other employers if you have more than one job and your other employers have not yet started STP reporting. Make sure you have all the information you need to prepare your tax return. This may include an income statement as well as payment summaries from other employers.
If you have any questions, feel free to ask them in the comment section. We will be happy to answer all your queries.
Disclaimer : All the content (including Blogs, newsletters, Fact sheets, calculators etc.) provided on this website is general information only and is neither intended to nor be considered personal financial or taxation advice. The content has been prepared without taking into account your personal circumstances, financial situation or objectives. In making any financial, investment or taxation decision, information provided on this website should not be relied upon and you should seek personal advice. AVS Business Services Pty Ltd disclaims any responsibility for any decision that you make, based on the information provided on this website.All the information provided on this website is prepared in good faith and based on AVS’s knowledge and understanding of superannuation, taxation and other relevant laws and is believed to be correct at the time of writing the information. However as the laws, being dynamic by nature, keeps on changing, you should not rely on the information provided on this website without first obtaining advice from qualified professional.