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  • Personal superannuation contribution deduction

    The ATO has recently written to around 25,000 individuals, and their registered tax agents, who claimed a personal superannuation contribution deduction in their 2019 tax return, and details of an acknowledged notice of intent has not been reported by their fund via the Member Account Transaction Service. Some of these may be your members.

    The letter encourages individuals, who do not have an acknowledged notice of intent, to lodge a Notice of intent to claim or vary a deduction for personal superannuation contributions form with their fund before 30 June. As a result, you may experience an increase in:

    • notice of intent forms being lodged
    • members contacting you before 30 June 2020.

    Note: The law requires that a personal super contribution deduction can only be claimed where an individual has received an acknowledged notice of intent from their super fund prior to lodging their income tax return.

    However, in this instance, to assist clients to retain their deduction we will not review the timing of that acknowledged notice of intent provided they obtain an acknowledgement from their fund before 30 June 2020.

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      Last modified: 04 Jun 2020QC 62798