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titleSingle Touch Payroll Reporting

For the majority of employers; starting tax year 2018-2019 they will no longer be issuing Payment Summaries. Instead as an employee you will need to login to the myGov portal and obtain whats called an Income Statement which replaces the payment summary.

Overview

Employees need to login to the my gov portal to download their summary from the ATO portal. If they do not already have access they will need to register to do so. 

Benefits include:

  • your Income Statement is updated every time your employee pays you, so you always have an up to date information even if you leave mid year.
  • your income statement is stored securely and easy to find (note: only years reported by STP will be available)
  • The process of finalising a year is much easier for employers, so pre fill information for completing tax returns may be available sooner.


Table of Contents

Income Statement is the new Payment Summary

The income statement looks a little different from the the payment summary but it provides all the information needed to complete a tax return. The information is updated electronically every time an employee is paid and becomes tax ready when your employer marks the STP report as finalised.

Expand
titleClick here to view an example statement

example income statement


myGov Access

Navigate to https://my.gov.au and follow the instructions

1.Register and Login

  1. Register for myGOV (if you haven't already)
  2. Login and navigate to the ATO service
  3. Review the Tax Year Status and if "Tax Ready" view the detail and download


2.Navigate to ATO Service

3.Navigate to Income Statement

Warning
titleImportant Tax Ready

If you do not see Tax Ready next to your income statement you should not use this information for tax return purposes.





Frequently Asked Questions

Q: Can I still request a payment summary or income statement in a physical form from my employer ? 

A: It is your responsibility to retrieve your income statement from the myGOV portal yourself. The ATO has mandated that payment summaries should no longer be issued in almost all cases.

Q: My income statement status is showing as Year To Date or Not tax ready what should I do?

A: Your employer should send an STP update to make the Income Statement ready by the 14th of July (extended to the 30th for tax year 19-20). If your income statement is not complete please contact your HR or payroll officer who will be able to advise.