When Benjamin Franklin said that the only things certain in life were “death and taxes” most people didn’t consider that they may be closely linked. But problems with taxes can lead to the death of your small business unless you take steps to keep the taxman off your back.
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.
Over the years the Australian Taxation Office have continued to wise up and reduce or completely remove previously available deductions. Years ago when year end approached it was a crazy shuffle of money, cheques and paperwork. The Australian Taxation Office has sealed a lot of the old cracks, but there are still a few legitimate