Super Contributions
For an employer to be entitled to a deduction for superannuation contributions the contribution must be received by the fund on or before 30 June. The SG contribution rate increased to 11.5% of an employees ordinary time earnings from 1 July 2024 and will increase further to 12% From 1 July 2025.
Individuals wishing to claim a deduction for personal contributions must provide the fund with a notice of intention to claim a deduction and have that acknowledged by the fund before the earlier of the day the individual’s tax returns is lodged and 30 June of the next income tax year. The concessional superannuation cap for the current year is $30,000. If your balance is under $500,000 you may have bring forward contributions from earlier years that you can use.
Home Office
The revised rate for the 2025 financial year is 70 Cents per hour and this includes the following:
Light & Power
Phone Usage
Internet Usage
Stationery and computer consumables
You must have accurate diary records of your expenses. An estimate is not acceptable.
Motor Vehicle Expenses
If you are using the log book method please ensure you have a valid log book with a detailed 12 week Log. This is an ATO focus area.
If you use the cents per km method please ensure that you have workings to justify your calculation.
