Hello,
When I hire my first employee as a sole trader, are the wages and/or super contributions tax deductable like a business asset?
For example, I pay a worker $500 + 9% super, is that $500 and/or super contribution can be claimed as a work/business deduction when I do my tax?
Thanks!
When I hire my first employee as a sole trader, are the wages and/or super contributions tax deductable like a business asset?
Deductible as a business expense.
For example, I pay a worker $500 + 9% super, is that $500 and/or super contribution can be claimed as a work/business deduction when I do my tax?
Yes - as long as you report STP when payments are made.
Super is now 10.5 %
When I hire my first employee as a sole trader, are the wages and/or super contributions tax deductable like a business asset?
Deductible as a business expense.
For example, I pay a worker $500 + 9% super, is that $500 and/or super contribution can be claimed as a work/business deduction when I do my tax?
Yes - as long as you report STP when payments are made.
Super is now 10.5 %
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