Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREHeffron urges ATO to democratise SG contribution treatment
SMSF administrator Heffron SMSF Solutions has urged the ATO to democratise its treatment of employer superannuation contributions for tax deductibility purposes, arguing that employers should be able to claim an immediate tax deduction on contributions made by the end of financial year regardless of what clearing house they use to process the payments.
In a recent blog post, Heffron chief executive Meg Heffron noted the regulator had recently released a practical compliance guide stating it would not devote compliance resources to employers claiming a tax deduction on super contributions made through the ATO’s Small Business Clearing House at the end of the financial year, regardless of whether they had hit the employee’s account by 30 June.
Read more at SMSF Adviser.
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