Shortly your staff may ask you for a Group Certificate/Payment Summary.
Staff will not be receiving any documentation from you,
Group Certificates have been replaced by Income Statements under the STP system.
An annual ‘STP Finalisation’ to the ATO by 14th July.
Staff will be able to access details in their MyGov account.
Personal tax returns should be lodge after 31st July when ATO prefills will be available.
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Fair work says:
End-of-year summaries / Income statements
There have been changes to the way some employers need to report payroll information to the Australian Taxation Office (ATO). This includes payments such as:
- salaries and wages
- pay as you go (PAYG) withholding
- superannuation information.
This change is called Single Touch Payroll (STP).
If an employer reports using STP, they don’t have to give employees an end-of-year payment summary. An employee’s end-of-year payment summary – now called an income statement – is available through their myGov account.