2019/2020 Payment Summaries (ATO Income Statement)

Published in the Research School of Physics Event Horizon
Vol45 Issue26 29 June–3 July 2020

Dear Colleagues

In preparation for the end of the 2019/2020 financial year, please find an update from the Human Resources Division.

2019/2020  Payment Summaries (now known via the ATO as an Income Statement)

The way you receive your payment summary is changing.  It is now called an Income Statement and will be available through ATO online services using myGov or through your registered tax agent. 

This means what you have known as your payment summary (now called an Income Statement) will no longer be issued to you by the University and will not appear within your employee self-service section in HORUS.

Income statements will be finalised after the end of financial year and will be available by 10 July 2020 and the information in your income statement will be automatically pre-filled in your 2020 income tax return.

When your income statement has been finalised, the status within your MyGov account will change to 'Tax ready'. This means the information is ready for you to use in your tax return.

If you don't have a myGov account you can easily create one using an email address and password, then link your myGov to the ATO. Get started at ato.gov.au/onlineservices. 

If you cannot create or access a myGov account and don't use a registered agent, you can call the ATO on 13 28 61 and they will provide this information to you.

There is also a factsheet on the ATO website to help you understand these changes, visit ato.gov.au/stpforemployees.

Updating your details and address in HORUS

To ensure your income statement is available to you as soon as possible, it is more important than ever to ensure your personal contact details within HORUS are correct and up to date and also that, if you have an ATO online account, that this also has your correct contact details.  

Please take the opportunity to check and, if required, update your contact and address details.

Salary Sacrificing

Staff members who sacrifice salary for benefits such as extra superannuation, campus childcare and on campus parking fees frequently enquire about the reported gross earnings when they receive their payment summary. If you had a salary sacrificing arrangement in place in the 2019/2020 financial year, your taxable earnings will be reduced by the amount equivalent to the salary sacrifice deduction (i.e. before tax). Therefore, your income statement will show an amount less than your normal annual salary.

If you have any questions about the above, please contact employment.services@anu.edu.au.

Kind regards

Dr Nadine White

Director - Human Resources