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An income statement is the digital record showing total wages paid to you by an employer and total tax withheld for the financial year. It replaced the old paper PAYG payment summary under Single Touch Payroll (STP).
How can you access your income statement?
Through our service, we access your income statements directly. You do not need to navigate ATO online services or chase your employer.
When we lodge your return, we see:
- Every employer who reported income for you in the financial year
- Total gross wages from each employer
- Total tax withheld from each employer
- Finalisation status (in progress or finalised)
- Super contributions paid
This is one of the main advantages of working under the supervision of a registered tax agent.
When do income statements become available?
The annual cycle:
- 30 June: financial year ends
- 1 July: lodgment window opens
- 14 July: employers begin finalising income statements
- 31 July: most employers should have finalised
- Marked as "Tax Ready" once finalised
If your income statement still shows "Year-to-date" or "In Progress" past 31 July, the employer has not yet finalised. We monitor this and lodge once all reports are tax-ready.
What if there is an error in your income statement?
Errors do happen. Common issues:
- Total wages do not match your payslips
- Tax withheld figure is incorrect
- Missing employer (worked there but no record exists)
- Wrong residency status applied (30% instead of 15%)
When we find a discrepancy, we contact the employer on your behalf to correct the reporting. If the employer is unresponsive, we can lodge with an estimate and amend later, or escalate the issue through formal channels.
What if you worked for multiple employers?
All employers appear separately in the income statements section:
- Each employer has their own line in the data
- Total gross and total withheld are shown for each
- We pull all of them when preparing your return
- The combined totals are what appear in your tax return
Lodging without checking every employer is one of the most common self-lodgment errors. We always cross-check the full picture before lodging.
What records should you keep?
Even though income statements are digital, keep your own copies:
- All payslips received throughout the year
- Annual summaries from your employers
- Bank statements showing wages deposited
- Any correspondence about pay rates or adjustments
These help us cross-check the income statement against what was actually paid, and resolve any discrepancies before lodgment.
Get in touch with our team for help with any tax, super, or workplace question during your time in Australia.