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Do I still need a PAYG Summary to do my Tax Return?

Everyone: “How do I get my PAYG summary or group certificate, I didn’t receive one”

ATO: “Oh didn’t you know, we changed it & now call it Income Statement”

In the past, you know it has been time to lodge your Tax Return when your boss delivers that bit of paper to you that most of us know as a Group Certificate or PAYG Summary.

The ATO has decided to change things up a bit by introducing the Income Statement. So if you’re wondering why you didn’t get a PAYG payment summary this year [2021], you wouldn’t be the only one. 

Do I still need my PAYG summary to do my Tax Return? 

If you’re using an online tax agent like One Click Life – The short answer is no, you don’t need a PAYG summary to do your Tax Return

The info from your PAYG Summary is still needed, but someone must have decided to save some paper, so instead of printing it out, that info is sent directly from your employer to the ATO electronically. (Employers can still chose to print them, but it’s quite rare. Either way, they are required to complete the document within 14 days of the end of the financial year.)

Using platforms like One Click Life to submit your Tax Return online is quick and easy.

OCL now connects directly to the ATO, and with the click of a button, automatically pulls through your income details and calculates your tax refund for you. 

There’s no paperwork or appointments needed, so you don’t have to worry about chasing up your group certificate, sorry payg summary*… nope, sorry, we mean Income Statement.

Damn!…. We can see why tax time can be so confusing and frustrating. Let’s clear things up.

PAYG in a nutshell

What is a PAYG summary? It’s a payment summary provided by your employer showing your income details for the financial year. You may also know it as any of the following:

  • Group certificate
  • PAYG summary
  • ATO PAYG payment summary
  • Income Statement

These are all the same thing. They are simply documents which provide your income details and the amount of tax paid. Previously, you needed these documents to complete your Tax Return and get a tax refund. This is not the case anymore.

Online Tax Return companies like OCL get all your PAYG information automatically. This means you don’t have to worry about:

  • Do I need a group certificate to lodge a Tax Return?
  • How to get a group certificate online?
  • When should I get my group certificate?
  • What does a group certificate 2021 look like?, or 
  • An employer not providing a group certificate to you.

Income Statements — what’s the go and do I need to get it from myGov?

To avoid confusion, let’s get one thing clear. There’s still a chance you may receive a payment summary. There are two ways to get your income details, according to the ATO:

  1. If your employer reports your income, tax and super information through Single Touch Payroll (STP) you will receive an Income Statement, which is accessible via myGov.
  2. You may still receive a payment summary by July 14 if your employer is not yet reporting through STP.

Your employer should let you know if you are going to receive an income statement or a payment summary Otherwise, its gone through STP and the whole process is automated.

How to get your PAYG Summary or Income Statement: myGov vs One Click Life

With a new payroll reporting system put in place by the ATO, employers no longer need to provide PAYG summaries to staff. That said, most people generally view their income details simply by looking at their payslips.

To access your Income Statement, either log in to One Click Life and take a look, or you’ll need to create a myGov account. Sounds pretty straightforward, but nothing is simple and easy when it comes to dealing with the Government!

They’ll have you jumping through hoops and crossing oceans just to create an account. In fact, they have pages of instructions dedicated to helping you create an account because mistakes are so common.

First and foremost, you don’t need your payment summary or income statement to lodge your Tax Return and get a tax refund. This means that you don’t need to rely on ATO to complete your Tax Return. 

With that in mind, why move mountains to do your taxes when you can do it from your couch? Let’s compare the benefits:

myGovOne Click Life
Quick and simple X
Pre-fills your income details X
Helps you claim deductionsX
Checks your return for errorsX
Live support from a qualified accountantX

For Tax Returns made quick, simple and easy — find out how it all works 

Alternatively, you make time to book an appointment with your local tax agent to obtain your income statement. Of course, then you have to find one, call to introduce yourself, request a meeting, then drive to see them and work through explaining all your tax affairs. Then they can review it all, ask a heap of questions, you send through more information, finally after all that hard work and time, your return is lodged and then you get their bill!

Don’t waste time chasing up paperwork

Remember, you don’t have to face the ATO alone. At One Click Life, we have made doing your online Tax Return convenient, easy and stress-free. There’s no messy paperwork or confusing tax lingo. We’re on your side to help you get a better tax refund while making sure you’re in the good books with the ATO, so you can:

  • Spend less time on tax

Your time is important. Our simple and convenient process only takes a couple of minutes, so you can get back to doing what you love.

  • Maximise your refund

Get deduction tips from our friendly numbers geeks and boost your Tax Return.

  • Enjoy financial freedom

We’ll take care of your taxes, so you can focus more on what matters most in life — going on adventures. 

  • Feel more confident

We’re on your side and help you reduce the risk of being audited, so you don’t have to face the ATO alone. 

  • Give back to the community

Always wish you could do more? Feel good about doing your taxes with a special gift that you can keep, or donate with our Random Acts of Kindness program.

  • Keep all your information protected

Verified & secured by Microsoft technologies, your information is safe and encrypted with Australia’s first and only, advanced anti-fraud security system. It’s why we ask you to ID to access our online tax lodgement service.

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