Employer contributions deemed income: payments to employee savings accounts or to non approved funds treated as taxable receipt. The provision treats specified employer payments as income deemed received in the financial year: employer contributions made to an employee's account ... Summary
Employer contributions deemed income: payments to employee savings accounts or to non approved funds treated as taxable receipt.
The provision treats specified employer payments as income deemed received in the financial year: employer contributions made to an employee's account with a permitted savings intermediary are treated as receipt by the employee; and employer contributions to any fund that is not an approved fund, together with interest thereon, are likewise treated as received in the financial year.
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