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Heffron 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.

Heffron urges ATO to democratise SG contribution treatment
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  • Shared by SMSF Adviser
  • January 15, 2020
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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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