Question - Jake Walker, aged 36, is an Australian resident for tax purposes. Jake is employed as the
CEO for a firm of management consultants, called Shape Consulting Pty Ltd. Jake is on a gross salary of $150,000. In addition to this amount, Jake has been able to negotiate with
Shape Consulting Pty Ltd that they will contribute 12% (instead of the compulsory 9.5%) of Jake's gross $150,000 salary into his complying superannuation fund by the due dates. This equates to employer-sponsored superannuation contributions totalling $18,000.
In addition to this contribution, during the year ended 30 June 2017, Jake also contributed $15,000 into his superannuation fund from his pre-tax salary of $150,000.
Furthermore, during the 2017 income year, Jake won $100,000 playing gold lotto. He decided to contribute $40,000 of this amount into his superannuation fund.
Assume that Jake does not have any other income or deductions. Furthermore, assume that all superannuation contributions referred to above were paid into Jake's superannuation fund by 30 June 2017.
Required -
How much will Shape Consulting Pty Ltd be able to claim as a tax deduction in respect of their $18,000 superannuation contribution made into Jake's superannuation fund?
What amount will be reported on Jake's 2017 PAYG payment summary (under the heading "reportable employer superannuation contributions")?