Access your income statement
You will receive either an income statement via myGov or a payment summary from your employer depending on how
You will receive either an income statement via myGov or a payment summary from your employer depending on how your employer reports your income, tax and super information.
Your employer will provide you with your end of year statement as either:
Your employer should let you know if you will receive an income statement or payment summary. You should talk to them if you are unsure.
Employers are no longer required to give you a payment summary if they report through STP. This information will be made available to you through ATO online services via myGov and finalised by 31 July
If you have more than one employer, you may receive both an income statement and a payment summary. You will need to check that income from your payment summaries is included in your return. This information may be pre-filled for you or you might need to enter it manually.
Access your income statement via your tax agent
Your tax agent will be able to access your information through their software or through Online services for agents.
Your agent will need to wait until the income statement has been marked as ‘Tax ready’ to prepare and lodge your return. Most employers have until 14 July to finalise their data. However, some employers have until 31 July to do this.
We will send a notification to your myGov inbox when all of your income statements are ‘Tax ready’.
If your employer is reporting through STP, you receive an income statement.
Your PAYG payment summary will show your year-to-date salary and wages, the tax that has been withheld and the reported amounts of your employer super.
You will need to wait until your employer marks your statement it as ‘Tax ready’ before you prepare and lodge your tax return. Most employers have until 14 July to do this but will often do it earlier. Some employers have until 31 July.
It is important that you don’t use any information that is not marked ‘Tax ready’ as your employer may finalise your income statement with different amounts. If you lodge before the statement is ‘Tax ready’, you may have to amend your tax return.
We will send a notification to your myGov inbox when all of your income statements are ‘Tax ready’.
If after 31 July your PAYG payment summary is not marked as ‘Tax ready’ in ATO online services, you will need to speak to your employer to find out when they will finalise your statement.
If your statement information isn’t marked as ‘Tax ready’ by your employer, you will see a red box in ATO online services that says ‘Not tax ready’. You will need to speak to your employer to find out when they will finalise your statement.
If you choose to lodge your tax return before your income statement is finalised by your employer, you will need to review any information that has pre-filled and confirm it is correct and you wish to use it before you submit your tax return.
If you choose to use information from your income statement before it is finalised to lodge your tax return, you will need to acknowledge that:
Click here for further information on how Griffin & Associates can assist in your tax matters.
Source: Australian Taxation Office
Date: 21/06/2021
79 Denham St, Townsville City QLD 4810
Phone 07 4772 6588
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