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Income Statement is the new term for employees’ payment summaries.
The Australian Government has implemented a system where employers must report payroll information to the ATO each and every payrun, it is called STO (Single Touch Payroll).
After the successful landing of STP (single touch payroll) in Australia, employers are not issuing Payment Summaries (aka Group Certificates) any more. This article is about how you can access your Income Statement (aka Payment Summaries) through MyGov services.
So, one again:
- employers are no longer required to provide employees with a payment summary for the information that have already been reported and finalised through STP
- employees can access year-to-date and end-of-year income statement online through myGov or talk to their registered tax agent
First of all login into my go: http://my.gov.au . If you don’t have MyGov account you can easily create it here.
Open MyGovCodeGenerator app on your mobile phone (iOS, Android):
Copy the code to the code field:
Go to Australian Taxation Office services:
Go to Employment, then Income Statement
Here you can access all of your Income Statements (aka Payment Summaries, aka Group Certificates):
Important: incorrect personal details may prevent employees from seeing their STP information
If your Income Statement is displaying Not Tax Ready, means your employer didn’t finalise annual STP. The finalisation due date is 31 July 2020.
Important: Employees have to wait until their income statement is ‘Tax ready’ before lodging their tax return.
You can also access printed version for tax and personal use, by clicking on the drop down:
Important: check your personal details and if necessary update with both your employer and the ATO.
At the very bottom:
Remember that all this information will be automatically pre-populated when you do your tax return with a tax agent or via ATO myTax.
Other Information on myGov
On the ATO Online Services (using myGov) employees can access:
- the amount of super that has been calculated and reported by employee's employer,
- the amount of that super that has been paid into employee's super fund/s and,
- the year to date amounts of wages, allowances, deductions and tax.
Employees can still monitor super information from their super fund/s website, without using myGov.
Other Sources
You may access your Employment Income Statement from this two sources as well:
- Phone the ATO who will provide it to you 13 28 61
- Your Tax Agent will already have access to the final information in their Tax Return Preparation software.
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