To be eligible to claim a tax deduction for employee Superannuation Guarantee Contributions (SGC) for this financial year, your employee’s superannuation fund must have received and processed any payments made by you on or before 30 June 2019.
Review any employees who are salary sacrificing superannuation or reaching their $25,000 concessional cap. Any amounts that have been calculated towards this total, but are scheduled to be paid after 20th June 2019, may not reach that employees superannuation fund in time for the 30 June 2019 deadline. Any amounts received after this time will be counted towards their cap in the following financial year.
Topping up your superannuation
If you are salary sacrificing your superannuation through payroll, please contact your payroll administrator to ensure any superannuation will be processed and paid in time for the 30 June 2019 deadline.
Any additional payments made by you must meet your superannuation fund account by the 30 June 2019 deadline, we suggest getting this paid early.
To ensure all superannuation payments are received in this financial year, we recommend processing these amounts by 2pm on Thursday 20th of June 2019.
If you have any questions in relation to this, please contact our office on 07 3831 1055 or alternatively email us at [email protected].
DISCLAIMER: The information on this website and the links provided are for general information only and should not be taken as constituting professional advice from Hall Browns Accountants. You should consider seeking the appropriate legal, financial, or taxation advice to check how the website information relates to your unique circumstances.