For employers who began using Single Touch Payment (STP) before 1 July 2018, the ATO has provided further information regarding employee pay summaries for 2017/18 and how they may change using STP, including:
- Employers aren't required to give employees payment summaries regarding information reported using STP - however, employers may choose to provide payment summaries for the first year using STP.
- Payment Summaries will be replaced by "Income Statements".
- Employers have until 14 August this year to finalise their STP data as Income Statements may not be tax ready until this date.
- Employees' Income Statements are available through pre-filling and myGov.
- There are three categories for the income statement: "Tax Ready", "Not Tax Ready" and "Year-To-Date". Only "tax ready" income statements are complete and will be available through pre-filling.