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Edited version of private advice
Authorisation Number: 1051928510540
Date of advice: 13 December 2021
Subject: Deductibility of personal superannuation contributions
Can you claim a tax deduction for your personal superannuation contributions made under section 290-150 of the Income Tax Assessment Act 1997 (ITAA 1997)?
This private ruling applies for the following period:
Year ending 30 June 20xx
The scheme commences on:
1 July 20xx
Relevant facts and circumstances
On DD MM YYYY you contributed $xxxxx superannuation contributions into your self-managed superannuation fund.
On DD MM YYYY you lodged your tax return for the 20xx-xx income year.
On DD MM YYYY the Notice of Intent to claim a deduction was filed with your self-managed superannuation fund.
On DD MM YYYY the respective acknowledgement letter was returned to you
Relevant legislative provisions
Income Tax Assessment Act 1997 section 290-150
Income Tax Assessment Act 1997 section 290-170
Reasons for decision
Section 290-150 of the ITAA 1997 states that you can deduct a contribution you make to a superannuation fund or a retirement savings account for the purposes of providing superannuation benefits for yourself, in the income year that the contribution was made, provided all of the following conditions are satisfied:
• the complying superannuation fund conditions under section 290-155 of the ITAA 1997;
• if applicable, the maximum earnings as employee condition under section 290-160 of the ITAA 1997;
• the condition that a contribution is not a downsizer contribution under section 290-167 of ITAA 1997;
• the condition that a contribution is not a re-contribution under first home super saver scheme under section 290-168 of the ITAA 1997;
• the condition that a contribution is not a re-contribution of a COVID-19 early release amount under section 290-169 of the ITAA 1997;
• age-related conditions under section 290-165 of the ITAA 1997; and
• the notice of intent to deduct conditions under section 290-170 of the ITAA 1997.
Section 290-170 of the ITAA 1997 relevantly states:
(1) To deduct the contribution, or a part of the contribution:
(a) you must give to the trustee of the fund or the RSA provider a valid notice, in the approved form, of your intention to claim the deduction; and
(b) the notice must be given before:
(i) if you have lodged your income tax return for the income year in which the contribution was made on a day before the end of the next income year - the end of that day; or
(ii) otherwise - the end of the next income year; and
(c) the trustee or provider must have given you an acknowledgment of receipt of the notice.
To claim a tax deduction, you must give the trustee of the fund a notice of intent before you lodged your income return on DD MM YYYY. You failed to meet the condition under paragraph 290-170(1)(b) of ITAA 1997, and therefore section 290-150 of ITAA 1997 does not apply. As a result, you cannot claim a tax deduction for your superannuation contributions made in the 20xx-xx income year.