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E2 No-TFN tax offset

Last updated 12 February 2019

Show at E2 the no-TFN tax offset claimed.

A fund is entitled to a refundable no-TFN tax offset for the 2012-13 income year if:

  • tax was payable by the fund on an amount of no-TFN quoted contributions in one of the most recent three income years ending before the 2012-13 income year, and
  • the no-TFN quoted contributions were made to the fund to provide superannuation benefits for an individual who has quoted (for superannuation purposes) their TFN to the fund for the first time in the 2012–13 income year.

The no-TFN tax offset is the total amount of the additional tax paid or payable on amounts of no-TFN quoted contributions where the above conditions have been met.

Start of example

Example 8: Superannuation fund showing a credit at E2 No-TFN tax offset

The Margarita Superannuation Fund is a complying fund. The fund reported $10,000 no-TFN quoted contributions in its 2011–12 tax return and paid additional tax (at 31.5%) of $3,150 on those no-TFN quoted contributions.

The no-TFN quoted contribution income included $2,000 of assessable contributions made by Julie, as she had not provided her TFN to the fund by 30 June 2012. For the no-TFN quoted contributions attributed to Julie, the fund paid additional tax of $630. Julie provided her TFN to the fund on 30 September 2012.

In its 2012–13 tax return, the fund is entitled to claim a no-TFN tax offset for the additional tax of $630 paid on the $2,000 no-TFN quoted contributions reported in the fund’s 2011–12 tax return. The $630 is included at E2 item 12.

End of example