Blog

03/09/2018

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.

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