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  • E2 No-TFN tax offset



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Show at E2 the no-TFN tax offset claimed.

    A fund is entitled to a refundable no-TFN tax offset for the current 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 current year
    • the no-TFN quoted contributions were made to the fund to provide superannuation benefits for an individual who provided their TFN to the fund for the first time in 2011-12.

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

    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 2010-11 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 2011. 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 2011.

    In its 2011-12 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 2010-11 tax return. The $630 is included at E2 item 12.

    Last modified: 13 Feb 2019QC 25835