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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 myGOV 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:

income statement for the tax period. The income statement replaces the payment summary that was previously distributed by the employer.

The income statement was introduced as part of the Single Touch Payroll initiative that the ATO introduced in the 2018-2019 tax year. As this is a change from previous years we have provided a short guide to help employees and payroll and HR professionals.

The good news is 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. This also means:

  • 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

Step 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

Step 2.

Navigate

Navigation to

ATO Service

the ATO service

Once you have completed login you will be taken to the myGov home page that will provide links to the services you have setup in the portal. 

Click on the ato service button.

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Step 3. View Income Statement

The ATO service home page displays a number of options, and has information on any actions that are currently pending.

Click on "View my income statements" link as highlighted in the screenshot below.



Within the income statements section you will see all of the income statements that have been reported by STP. They will display in summary form as shown in the screen shot below.


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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.

Image Removed

Image RemovedBy clicking on the down arrow next to the summary total you can see a break down of the details including when it was last reported and some high level totals. 

Click on the Tax Print button to proceed to the income statement.

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The page will refresh and you will see the following that can be printed by simply clicking on the Print button, this action can also be used to save a copy as PDF using your browser print dialog.



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.