Excerpted Content

The following is an excerpt from an Australian Taxation Office message received on  

Wait until your payment summary information is tax ready

The way you get your payment summary information is changing.

Your end-of-year payment summary information, now called an income statement, will be available through myGov for you or your tax agent.

It's important to wait until your employer marks your information as tax ready before your tax return is lodged. Most employers have until 31 July to do this, and we'll send a message to your myGov Inbox when it is tax ready.

If you lodge your tax return before your income statement is tax ready, you may need to lodge an amendment. In some cases, additional tax and interest may be payable.

If you have more than one job, your other employers may still need to provide you with a payment summary. Make sure all income is included when lodging your tax return.

This change is because many employers are now required to report pay and super information direct to us each pay day. All employers will eventually report this way.