Timing of deductability of Superannuation is dependent on the year it is received AND processed by the super fund.

While Superannuation Guarantee is not due till the 28th of July, in order to get the income tax deduction in this financial year the superannuation must have been received and processed by the fund before 30 June.

With this in mind, we recommend you allow for processing time when remitting your super to ensure destructibility in this financial year.

An exception of this rule  for those using the government’s superannuation clearing house – funds received by the clearing house before end financial year are considered as having been received by the super funds.