TWU

There are changes to how you do your tax this year. If you haven't already done it, it's time to register for a MyGov account.


What are the changes?

If you work in a company with more than 20 employees, you will no longer get an annual payment summary from your boss. Instead the information from the entire tax year on income, tax and superannuation will be sent to the ATO - and will automatically be filled in on your tax return (the ATO call this Single Touch Payroll).

What does this mean?

It means that when you go to file your taxes you won’t have the payment summary you normally would have. To file your taxes you will need to register with the government’s online services system at my.gov.au. Once you have done that, your information will be there.

When does this happen?

It will affect the taxes you file this year  - from the end of June.

Anything else?

If you want to check the info on mygov keep your final pay slip you got closest to June 30 - this will have most of your details. For info from the ATO on these changes go to:

https://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/information%20for%20employees.pdf

I work in a company with less than 20 employees - does it affect me?

Not this year but it will affect you next year.




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