From 1 July 2019, you can only claim deductions for payments you make to your workers (employees or contractors) where you have complied with the Pay-As-You-Go (PAYG) withholding obligations correctly (i.e. withheld the correct amount) and reported it to the ATO.
Failure to do the above may result in your business losing its deduction for the whole amount. For further information please refer to this link on the ATO website.
In terms of super, it is important to remember that if you do not pay your super on time (usually before the 28thof the month after quarter end) you may also lose the deduction completely or be required to pay further monies to the ATO. Accordingly, it is vital that your reporting and payment obligations are met on time.
Please contact us on 02 9707 4470 if you have any queries.