Employees and payment summaries
The ATO has reminded employees that how they get their end of financial year information from their employer, showing their earnings for the year, depends on how their employer reports their income, tax and super information to the ATO.
- Employers that are not yet reporting through STP will continue to provide employees with a payment summary by 14 July.
- Employers that report through STP are no longer required to give employees a payment summary; instead this information will be provided in an ‘income statement’ available via the employee’s myGov account by 31 July (i.e. when the employer marks it as ‘Tax Ready’).
Please contact our office if you have any queries about STP, whether as an employer or employee.
The Money Edge | Bundaberg