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R Assessable contributions

Last updated 12 February 2019

Show at R the total assessable contributions received by the fund for the year.

Calculate the amount at R by adding:

  • R1 Assessable employer contributions
  • R2 Assessable personal contributions
  • R3 No-TFN-quoted contributions.

Then deduct:

  • R4 Contributions excluded by trustee
  • R5 Pre 1 July 1988 funding credits
  • R6 Transfer of liability to life insurance company or PST.

Do not include at R the following contributions (because they do not form part of the fund’s assessable income):

  • super co-contributions and low income super contributions made under the Superannuation (Government Co-contribution for Low Income Earners) Act 2003
  • contributions for a person under 18 that are not made by, or on behalf of, the person’s employer
  • payments by a member of another superannuation fund to a regulated superannuation fund to be held for the benefit of their former spouse (sometimes referred to as ‘member spouse contributions’) where there is a splitting of a superannuation interest due to marriage or relationship breakdown
  • spouse contributions for which the contributor cannot claim a deduction
  • a payment made directly from a First Home Saver Account (FHSA) where the holder of the FHSA is the member of the fund for whom the contribution was made, or a Government FHSA contribution
  • a contribution made to a life insurance company or a PST by an entity that was a trustee of a complying superannuation fund, a complying ADF or a PST, or the trustee of an exempt life assurance fund, when the contribution was made.

A spouse of a member includes another person (of any sex) who:

  • the member was in a relationship with, that was registered under a prescribed state or territory law, or
  • although not legally married to the member, lived with the member on a genuine domestic basis in a relationship as a couple.

Generally, the liability for tax on contributions lies with the trustee of a fund receiving the contributions. Complying superannuation funds, non-complying superannuation funds that are Australian superannuation funds and ADFs can apply the deduction provisions as if all contributions made to them are included in assessable income. However, other superannuation funds may only be entitled to a deduction for the cost of collecting assessable contributions.

Show the deductions allowable against contributions at the appropriate labels in Section C: Deductions.