Super payments are only considered to be paid for the purpose of claiming a tax deduction once they are received by the superannuation fund, not the date they are accepted by the Small Business Superannuation Clearing House (SBSCH).
To ensure you claim a deduction for the 2019-20 income year superannuation funds need to receive your employees’ super funds before 30 June 2020. Therefore payments need to be accepted by the SBSCH by 23 June 2020.
See below for link which explains this in more details:
If your business was not eligible for the Job Keeper program under the Basic Test there is an Alternative test for entities with different circumstances. As an example these circumstances may apply where you have purchased a new business, had irregular turnover, recently commenced business or even where the sole trader or small partnership has been effected by sickness, injury or leave. If you would like to discuss further please call our office as soon as possible as the Job Keeper program enrolment closes on 31 May 2020. We have listed a link below with more information:
The Victorian Business Support Fund $10,000 Grants have been expanded to include more businesses. Applications close on 1 June 2020.
If your business employs people, has a turnover that is greater than $75,000 and payroll is less than $650,000 then your Business may be eligible to apply.
