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2016 INDIVIDUAL INCOME TAX RETURN CHECKLIST INCOME PAY Payment summaries Lump Sum and Eligible Termination Payment Summaries Government/Centrelink/Family Assistance payment statements Income stream
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Pay-as-you-go (PAYG) payment summaries are financial statements provided to employees at the end of the financial year, detailing the income they have received and the tax that has been withheld.
Employers are required to file PAYG payment summaries for all of their employees.
Employers can fill out PAYG payment summaries using the information from their payroll records, detailing each employee's income and tax withheld.
The purpose of PAYG payment summaries is to provide employees with a record of their income and tax withheld for the financial year, which they can use to complete their tax return.
PAYG payment summaries must include details of the employee's total income, tax withheld, and any other relevant deductions.
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