Claiming your superannuation contributions as a tax deduction
In order to claim superannuation contributions as a tax deduction your payment to super has to be made and cleared within the superannuation fund by 30th June 2018.
If you are contributing to superannuation using the services of a Superannuation Clearing House you should allow more time for your contributions to clear.
It would be safe to transmit payments via a clearing house up until 20th June 2018 and assume they will clear prior to year end. As we have seen in the past the Superannuation Clearing Houses can become inundated and this can delay the receipt. If you are in need of a superannuation deduction get your deductions in as early as possible.
If you are contributing directly to a Self Managed Superannuation Fund (SMSF) the contributions still need to be cleared funds within the SMSF so again don’t leave transfers until 30th June 2018.
If you have any questions please don’t hesitate to contact us on 07 5437 9900 or via our email address email@example.com.
Having been in the tech industry for over 14 years, Angie has seen all forms of technology evolve exponentially. Angie is part of Poole Group's Automation Projects team, developing their internal system to automate workflow and helping small businesses to implement Xero Apps.