Super Deductions for Self-Employed Contractors
Proposed amendments to the Superannuation Guarantee (SG) legislation have raised the possibility that employers will be able to deduct contributions made to self-employed contractors.
The Bill – Tax Laws Amendment (Loss Recoupment Rules and Other Measures) expands the meaning of ‘employee’, to include any persons under contract wholly of principally for labour.
As a result, SG payments made to contractors who are engaged principally for labour will be deductible for the employer.
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