Under the Single Touch Payroll regime, employers will now report this information to the ATO after each pay run. This allows the ATO greater visibility to each employee and their payroll running balances.
How do I access my income statement?
If your myGov account is set up and linked to ATO online services, you need to:
1. Log in to your myGov account
2. Select the Australian Taxation Office from ‘Services’
3. Click on ‘Employment’ at the top of the screen
4. Select ‘Income Statement’ from the drop down
5. On the screen you will see the income you have earned from your employer or employers for the financial year, and the tax that has been withheld. This is the information that will be used in your tax return. Please ensure that the income statement shows as ‘Tax Ready’ as this will avoid any potential errors/adjustments.
How do I input this in the Nixer System?
Your Income Statement will look like the following:
Input Into the Nixer System as follows:
If you would like to discuss any of the above, please contact us any time at email@example.com