Your income statement is now available online through myGov. Read below to find out how to access yours!
What is Single Touch Payroll (STP)?
STP payroll involves reporting employee payroll information such as tax and super to the Australian Taxation Office (ATO) every time you pay them through a STP program. This will send the ATO information around salary and wages and pay as you go (PAYG) withholding.
STP has been mandatory for all employers in Australia since July 2021.
What does this mean for you, the employee?
To access your tax and super information for the current year, you have to go the ATO and your myGov account.
If you haven’t got a myGov account, follow our step-by-step guide here!
If you don’t want to make a myGov account, you can ring the ATO and ask for a copy of your income statement instead.
Your income statement (which used to be known as your payment summary) will be available through your myGov account too as your employer doesn’t need to give you a paper or digital copy of this anymore.
An income statement contains your income, tax, and super information, which is the information that your employer must report every time you get paid through STP. This is similar to your pay slip.
You can access your income statement at any time, however at the end of each financial year, your statement will be fully ready to use in your tax return.
If you use a registered tax agent (like us!), they will already have access to your income statement.
How do I access my income statement online?
Firstly, you need to create a myGov account and link that to the ATO. To find out how, click here!
After this, you can:
- Log into your myGov account
- Click ‘Australian Taxation Office’
- Click ‘Employment’, then ‘Income statements’