What does STP mean for Employees

If your employer reports through STP, you will see your year-to-date tax and super information by logging into your myGov account and accessing the ATO online services.

It is easy to set up and manage a myGov account if you don’t have one.  Instructions to set up a myGov account – click here

Each time your employer pays you, your year-to-date tax and super information will be updated in myGov. It may take a few days for your myGov information to be updated after your employer pays you.

Your payment summary information (group certificate) will also be in myGov and will be known as an income statement. Your employer does not have to give you an end-of-year payment summary for the information they report through STP.

The ATO will send a notification to your myGov inbox when your income statement is ‘tax-ready’ so that you can then complete your taxation return.

You can also view your superannuation payments made by your employer through myGov.  Employers pay super contributions at different times and that is fine.  They must pay at least quarterly though.

Read More
Federal Election AnalysisWith the upcoming election looming, our affiliated financial planning firm, Barns Financial Services, provide an overview of the different reform changes impacting Taxation and Superannuation from both sides of politics. For some voters, the decision on where...
Read More