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Re: ATO says "Your tax return is not ready yet"

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I've heard lots of different things about the new income statement system implemented this year and I think it's safe to say there's been no explanation as to how it works and what we should expect in terms of time-frame. The tax return page on the ATO website says I shouldn't lodge my tax return yet as it is not tax-ready, and that I would be updated when my employer finalises my information. I have spoken to everyone at my workplace who all work under the same company, and they have all had theirs finalised with the returns already having been paid. My gross payments and total tax withheld figures on the same page are all correct and current for the 2018-2019 financial year as per my pay slips, but I don't want to lodge anything if I've got to pay more because of an amendment. And apparently employers have until August 1st to finalise everything? This is all very frustrating and there's such a lack of communication going on.

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ATO Certified

Moderator

Replies 6

Hi @Chris_Lamperd,

 

Welcome to the Community.

 

If your employer has reported through Single Touch Payroll (STP) they'll no longer need to provide you with a payment summary; instead they'll report and finalise your payment information through STP. Once your employer has finalised your information for the financial year, you'll receive a notification through myGov advising your income statement is ‘Tax ready’.

 

To complete your tax return, you should wait until the information is 'Tax ready'. Your employer has until 31 July to finalise your information by making a finalisation declaration in their STP enabled solution.

 

From 1 July, your STP income statement information will be pre-filled into myTax even if your employer hasn't finalised it yet. If your income statement information isn't finalised yet, you'll see a red box with the word 'Required' next to your employer’s name in myTax. You'll need to review this pre-filled information and confirm whether you wish to use it before you submit your tax return.

 

If you choose to use information from an un-finalised income statement to lodge your tax return, you'll need to acknowledge that:

  • your employer may finalise your income statement with different amounts
  • you may need to amend your tax return and additional tax may be payable.

 

We suggest speaking with your employer before submitting your tax return (as you’ve advised your co-workers have already had their income statements finalised with the status as “Tax ready’).

 

As your employer has until 31 July to report, they may have business processes in place as to when they finalise their data; however they may not be aware your income statement isn't tax ready and possibly need to check their payroll software to ensure your data has been submitted successfully.

 

Hope this helps. Let us know if you have any further questions.

 

Thanks, NicM.

7 REPLIES 7
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ATO Certified

Moderator

Replies 6

Hi @Chris_Lamperd,

 

Welcome to the Community.

 

If your employer has reported through Single Touch Payroll (STP) they'll no longer need to provide you with a payment summary; instead they'll report and finalise your payment information through STP. Once your employer has finalised your information for the financial year, you'll receive a notification through myGov advising your income statement is ‘Tax ready’.

 

To complete your tax return, you should wait until the information is 'Tax ready'. Your employer has until 31 July to finalise your information by making a finalisation declaration in their STP enabled solution.

 

From 1 July, your STP income statement information will be pre-filled into myTax even if your employer hasn't finalised it yet. If your income statement information isn't finalised yet, you'll see a red box with the word 'Required' next to your employer’s name in myTax. You'll need to review this pre-filled information and confirm whether you wish to use it before you submit your tax return.

 

If you choose to use information from an un-finalised income statement to lodge your tax return, you'll need to acknowledge that:

  • your employer may finalise your income statement with different amounts
  • you may need to amend your tax return and additional tax may be payable.

 

We suggest speaking with your employer before submitting your tax return (as you’ve advised your co-workers have already had their income statements finalised with the status as “Tax ready’).

 

As your employer has until 31 July to report, they may have business processes in place as to when they finalise their data; however they may not be aware your income statement isn't tax ready and possibly need to check their payroll software to ensure your data has been submitted successfully.

 

Hope this helps. Let us know if you have any further questions.

 

Thanks, NicM.

Newbie

Replies 1

I'm having the same issue but my employer has responded that the ATO is currently experiencing delays due to a higher than normal processing load. This is impacting response times is delaying the payment summaries a little bit.and also state that they have submitted everything on their side so it's just a matter of time.

 

Is this correct?

 

 

I'm new

Replies 0

My income statement was showing as "Tax Ready" a few days ago. Now its shown as "Not Tax Ready". My employer says they have completed their reporting and now this issue is with ATO which is showing the wrong status. 

Newbie

Replies 3

I'm having the same issue but my employer has responded that the ATO is currently experiencing delays due to a higher than normal processing load. This is impacting response times is delaying the payment summaries a little bit.and also state that they have submitted everything on their side so it's just a matter of time.

 

Is this correct?

ATO Certified

TaxTime Support

Replies 2

Hi @hlane and @idawood,

 

Thanks for your questions!

 

There could be a number of different reasons why the income statements have been delayed in showing as "Tax ready" (or why the status has changed), but as per the information provided by @NicM, you can still lodge even if your income statement is marked as "Not tax ready".

 

As long as the information in myTax is correct and matches the details your employer has provided you with, there shouldn't be any difficulties.

 

Your employer would need to follow up on their end if they are noticing technical difficulties with their lodgements and finalised data.

 

Hope this helps,

 

Rachael B.

I'm new

Replies 1

It's now 19 August, my employer says they have done everything. I am happy to lodge it, can I and, will it be processed?

Community Support

Replies 0

Hi @chelseadame,

 

Yes, you can lodge your return and it will be processed. Just check that the data in myTax is correct and matches with what your employer has given you.

 

Thanks, @NateH

 

 

 

 

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