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  • CRT Alert 047/2017

    19 June 2017

    Reminder – elect to be non-deductible by 1 July 2017

    This is a reminder that superannuation funds with a defined benefit interest must notify us to elect to be non-deductible before 1 July 2017 if you want member contributions to be treated as non-deductible for the 2017–18 income year.

    If you do not make this election, or if you notify us of your election after 1 July 2017, your fund or defined benefit interest within the fund will be deductible. This means you will need to accept tax-deductible contributions from your members in the 2017–18 income year.

    To accept these tax-deductible contributions, you may face significant restructure costs.

    What you need to do

    If you have a defined benefit interest and want to elect to

    • be a non-deductible fund or
    • treat member contributions made to the defined benefit interest within the fund as non-deductible,

    for the 2017–18 income year, then you must notify the Commissioner of your election before 1 July 2017.

    Read about how to notify the Commissioner of your election to be non-deductible.

    Super funds that are already non-deductible

    The following types of funds are already prescribed by law to be non-deductible and do not need to make this election:

    • Commonwealth public sector superannuation schemes that have a defined benefit interest
    • Constitutionally protected funds or other untaxed funds that would not include member contributions in their assessable income.
      Last modified: 19 Jun 2017QC 52603