Claim a deduction for super contributions

May 27, 2020

Gillian Nathan from Simple Solutions Accounting Services Perth

Super payments are only considered to be paid for the purpose of claiming a tax deduction once they have been received by the super fund, not the date the Small Business Superannuation Clearing House (SBSCH) accepts them.

Ensure you can claim a deduction for the 2019–20 income year by allowing processing time for your super payments to be received by your employees’ super funds before the end of the 2019–20 income year. Payments need to be accepted by the SBSCH by 23 June 2020.

Check if you need to update super fund details in your SBSCH account for your employees, such as a change of ownership of a superannuation product. If there has been a change in ownership, the super fund’s ABN or Unique Superannuation Identifier (USI) may have been changed for your employee’s super account. Super funds will inform members (your employees) of any such changes, not you, so your employee should give this to you.

The next quarterly payment due date remains the same, at 28 July 2020.

Some helpful ATO links:
Check SBSCH system status
Accessing the SBSCH service
SBSCH Troubleshooting
Clearing house terms and conditions

If you have any questions or need more help contact us today, we’re here to help!

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