(last updated 27/03/2014)
At 30 June each year employers, bookkeepers and payroll officers are crazy preparing and issuing PAYG Payment Summaries for the end of the tax year. But what happens if they've all been issued and reconciled with the ATO and an employee (or the payroll office) notices an mistake?
You cannot change the information on a payment summary after you have:
When you complete amended payment summaries you must:
If the payee or payer information was incorrect, do not prepare a new payment summary. Advise the payee as soon as possible. Document the correct details and keep them in your files. There is no need to advise the ATO of the corrected details.
You must also give a copy of the letter to the payee.
Where payment amounts and/or tax withheld amounts have changed, you may also need to complete an amended PAYG payment summary statement.
If the payee loses their payment summary, do not issue a new one. Give them a photocopy of your own copy showing all the details from the lost payment summary.
Lost or Missing PAYG Payment Summaries:
See this post for a checklist of what to do if an employee has misplaced or lost a PAYG Payment Summary.
If the employee is happy with the details on the 30 June PAYG Payment Summary they will need to include the details on your 30 June tax return. See this post for details and checklist of eTax and Assessable Income & Allowances.
A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return online.
Our Web Based Tax Return App will step you through all the necessary questions to increase your tax refund and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started!
At 30 June each year employers, bookkeepers and payroll officers are crazy preparing and issuing PAYG Payment Summaries for the end of the tax year. But what happens if they've all been issued and reconciled with the ATO and an employee (or the payroll office) notices an mistake?
You cannot change the information on a payment summary after you have:
- given it to the payee, or
- provided your PAYG withholding payment summary annual report to the ATO.
When you complete amended payment summaries you must:
- complete all payee, payment and payer information on each amended payment summary
- send it to the ATO, and
- give a copy to the payee.
If the payee or payer information was incorrect, do not prepare a new payment summary. Advise the payee as soon as possible. Document the correct details and keep them in your files. There is no need to advise the ATO of the corrected details.
You must also give a copy of the letter to the payee.
Where payment amounts and/or tax withheld amounts have changed, you may also need to complete an amended PAYG payment summary statement.
If the payee loses their payment summary, do not issue a new one. Give them a photocopy of your own copy showing all the details from the lost payment summary.
Lost or Missing PAYG Payment Summaries:
See this post for a checklist of what to do if an employee has misplaced or lost a PAYG Payment Summary.
If the employee is happy with the details on the 30 June PAYG Payment Summary they will need to include the details on your 30 June tax return. See this post for details and checklist of eTax and Assessable Income & Allowances.
E-tax Return
See these posts with tips, calculators and checklists to help you prepare your eTax Return (and get a better refund) with less hassle:- checklist of eTax and Assessable Income
- checklist of eTax and Allowable Deductions
- eTax Return Checklist
A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return online.
Our Web Based Tax Return App will step you through all the necessary questions to increase your tax refund and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started!