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  • Personal superannuation contributions

    If you made contributions during the year to a complying superannuation fund or a retirement savings account (RSA) you may be able to claim a deduction for those contributions if you are between 18 and 75 years old and you are:

    • self-employed – that is, a sole trader or a partner in a partnership
    • not employed or you earn less than 10% of your total income from employment.

    If you want to make (or vary) a claim for a tax deduction for personal contributions, you must provide a valid notice of intent to your super fund or retirement savings account (RSA) provider and have this notice acknowledged (in writing) by your fund.

    A valid notice can be given by any of the following methods:

    • completing a Notice of intent to claim or vary a deduction for personal super contributions (NAT 71121)
    • using a form provided by your fund
    • writing to your fund, stating you wish to claim a tax deduction for your personal super contributions and including at least the following information:
      • your first name
      • your family name
      • your date of birth
      • your fund name
      • your fund member account number
      • the financial year you made your personal contributions
      • the total amount of personal contributions you made to the fund or RSA
      • the amount of these personal contributions you intend to claim as a tax deduction
      • a declaration that you are lodging this notice by the due date, that is, by the earlier of the following
        • the day you lodge your tax return for the year in which you made the contributions
        • the end of the income year following the one in which you made the contributions.
         
      • a declaration that the information contained in your correspondence is true and correct
      • your signature
      • the date (day, month and year).
       
    • a declaration that the information contained in your correspondence is true and correct
    • your signature
    • the date (day, month and year).
    Attention

    If you:

    • claim a tax deduction for a super contribution you have made, that contribution will be subject to 15% tax in the fund
    • claim a tax deduction (and it is allowed), you are not eligible for the super
      co-contribution for the amount that you claim.

     

    End of attention
    • Last modified: 06 Mar 2015QC 31985