You may be able to claim a deduction for personal contributions you made to a complying superannuation fund or a retirement savings account (RSA) in 2016–17 if:
- you satisfied the age-related conditions
- you gave a valid notice of intent to your fund or RSA provider, in the approved form, and advised them of the amount you intend to claim as a deduction (you must give this notice on or before the day you lodge your 2017 tax return or 30 June 2018, whichever is earlier)
- your fund or RSA provider acknowledged your valid notice, and
- you satisfy the "less than 10% rule" (see below).
Do you satisfy the less than 10% rule?
To work out if you satisfy this rule:
- Add up your total income, plus your total reportable fringe benefits amounts and your reportable employer super contributions.
- Now add up all your income from working as an employee, plus total reportable fringe benefits and your reportable employer super contributions amounts.
- If the amount at (2) is less than 10% of the amount at (1), you can claim a deduction for your contributions. If it's not, you cannot claim a deduction because you obtained 10% or more of your income (including reportable fringe benefits and reportable super contributions) as an employee.
Note: From 1 July 2017 the requirement that you derive less than 10% of your income from employment sources has been abolished and regardless of your employment arrangement you may be able to claim a tax deduction in your 2018 income tax return. You must still satisfy the 10% rule if you intend to claim a deduction in your 2017 income tax return for contributions you made before 1 July 2017. See Claiming deductions for personal super contributions for more information.
Income from working as an employee includes the following amounts:
- salary or wages
- allowances and other payments earned by an employee
- director's fees
- employment termination payment
- paid parental leave
- portable long service leave
- workers' compensation, income protection, sickness or accident insurance; in these cases, the activity may simply be 'remaining employed', even though you may not have actually worked in the year.
These amounts result in you being treated as an employee under the superannuation guarantee law.
Note: Before completing this section, you must see Personal superannuation contributions to determine whether you are eligible to claim a deduction for personal contributions you made to a complying superannuation fund or RSA in 2016–17.
Completing this section
- See Steps 1 to 9 to work out the amount of contributions which you are eligible to claim as a tax deduction.
If the amount you worked out is different to the amount you advised your fund or RSA provider that you intend to claim as a deductions (and they acknowledged this notice), see Important information below.
- For each fund or RSA you contributed to and you are eligible to claim a tax deduction, select Add and enter information into the corresponding fields.
Where Step 6 or 9 instruct you to write an amount at H item D12, enter this in myTax at Amount.
- Answer the question Did you receive payment under an income protection/ insurance policy or a parental leave payment?
If Yes, enter the required additional information.
- Select Save.
- Select Save and continue.
You cannot claim an amount higher than the amount your superannuation fund or RSA provider acknowledged. In addition, the deduction you claim can only reduce your taxable income to nil. It cannot add to or create a loss.
You may vary your valid notice to reduce the amount stated in relation to your contribution (including to nil). You cannot vary your valid notice to increase the amount stated in relation to your contribution.
You must notify your superannuation fund or RSA provider of any variation, in the approved form, on or before the day you lodge your 2017 tax return or 30 June 2018, whichever is earlier. Once you have provided notification, the value you enter at Amount for that contribution is limited to the reduced amount.
You may vary your notice after that date if the amount stated does not meet the personal superannuation contributions conditions and we have disallowed an amount of your deduction. For example:
- the deduction you claimed exceeds your assessable income
- you have claimed a deduction but you do not satisfy the 10% rule.
You can only vary your notice after that date by the amount of the deduction that does not meet the conditions and that we disallowed.Instructions on completing your individual tax return using myTax.