Personal deductible contributions

Your personal deductible contributions are personal contributions you made to a super fund that you can claim as a tax deduction on your individual tax return.

You can claim an income tax deduction for personal contributions you make to a super fund if you meet certain eligibility criteria.

If you made a personal contribution and did not claim a deduction for it, that amount is not a reportable super contribution.

Example 1

In the 2013–14 income year, Fred is self-employed and earns $40,000. Fred is not an employee for the purposes of super guarantee law.

Fred contributes $1,000 to his super fund. If he lodges a notice of intent to deduct and his super fund acknowledges that notice:

  • he can claim a personal tax deduction of $1,000
  • his taxable income is $39,000 if he claims no other deductions.

For income tests that include reportable super contributions, Fred’s income is $40,000 ($39,000 taxable income, plus the $1,000 reportable super contribution amount).

End of example

See also:

    Last modified: 01 Sep 2016QC 22119