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  • Want to claim a tax deduction on super payments?

    24 June 2021

    Do you use the Small Business Superannuation Clearing House (SBSCH)?

    Remember that 2020–21 super payments need to be accepted by the SBSCH by 23 June 2021, to allow time for the employees' super funds to receive the payments by 30 June 2021.

    It is important to pay by this date as the timing of the payments may impact the tax and super position of employees, including their contribution caps.

    If you intend to claim a tax deduction for super payments, you should be aware that these payments are considered to be paid once they have been processed and received by the employees' super funds, not the date the SBSCH accepts the payments.

    For more information about the ATO's approach for claiming deductions for super payments, you can read our Practical Compliance Guideline (PCG 2020/6).

    Before making your super payments, check with your employees if their super fund details need to be updated in your SBSCH account.

    Remember, registered tax and BAS agents can help you with your tax.

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