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Information in this blog post has been taken from ATO Small Business Newsroom and Super Guide
You can claim a tax deduction for super payments you make for employees in the 2020-21 income year. Making superannuation payments on behalf of your employees prior to June 30 is an important tax planning strategy. If you intend to do this, these payments must be accepted by the Small Business Superannuation Clearing House on or before 23 June 2021.
This allows processing time for the payments to be received by your employees' super funds before the end of the 2020-21 income year.
Remember to check with your employees if their super fund details need to be updated in your SBSCH account.
Under the current super legislation, you can claim a tax deduction for the following super contributions you make on behalf of your eligible employees:
If you have any questions or would like further clarification in regards to making super payments on behalf of your employees, please feel free to give us a call on (08) 9071 2173, or fill out the form below and we'll be in touch.