Single 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.

Introducing your new Income Statement

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.

Click here to view an example statement