During the 2018/19 year, Employers will commence reporting payroll information to the ATO.
This does not apply to you until you are advised by your employer!
This does not make any difference to how and when you get paid!
Employers are required to start using this system, but they are allowed to start at different times. You may hear that some employers have already started.
Larger employers (with more than 20 employees) need to use this system before 30 June 2019.
It is most likely (subject to a new law) that all employers will be in this system by 30 June 2020.
This new reporting requirement is a change for Employers. For some employers this will take time, and possibly a change to the way they use payroll systems.
Why Should You Care?
The ATO will see whether each employer is;
- Calculating Super amounts for you
- Paying your Super into your fund
- Withholding and also paying your tax to the ATO
Therefore the ATO will be asking questions of any employer who doesn’t appear to be doing the right thing.
They will also see the year-to-date amounts of wages, allowances, deductions and tax that you have received.
You will be able to see;
- the amount of Super that has been calculated by your employer,
- the amount of that Super that has been paid into your Super Fund/s, and
- the same year-to-date amounts of wages, allowances, deductions and Tax.
This information will be available online using the government’s myGov system and then access ATO Online. Mobile-friendly access is also available.
You don’t have to use myGov – You can still monitor your Super information from your Super Fund’s website.
What Does Change?
Your employer does not have to provide you with an End of Year Payment Summary. You and your Tax Agent can prepare your tax return by using your “Employment Income Statement”, which the ATO will provide to you through myGov and the ATO Online service. The Tax Agent will receive it directly into their tax preparation program.
You do not need a Payment Summary once your employer is using Single Touch Payroll.
What Does Not Change?
You must still receive a payslip from your employer each payday. Although some information will be online at myGov, your payslip contains additional information that the employer must provide to you.
I Don’t Have a myGov Account
Using an internet browser (mobiles included) access my.gov.au and set up a new account.
It is not compulsory to have a myGov account. However, if you want to access your ATO Online provided information throughout the year you will need one.
You will be able to contact the ATO for a copy of your payment information if you choose not to have a myGov account.
Your employer may still choose to provide you with a payment summary.