ATO Interpretative Decision
ATO ID 2004/340 (Withdrawn)
Superannuation
Personal superannuation contributions made by member over age 70FOI status: may be released
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This ATO ID is withdrawn as it states the law and does not contain an interpretative decision. Subsection 82AAT of the Income Tax Assessment Act 1936 does not apply for the 2007-08 income year and later income years. See replacement provision subsection 290-165(2) of the Income Tax Assessment Act 1997 for the 2007-08 and later income years.This document incorporates revisions made since original publication. View its history and amending notices, if applicable.
Status of this decision: Decision Withdrawn 2 November 2007
This ATOID provides you with the following level of protection:
If you reasonably apply this decision in good faith to your own circumstances (which are not materially different from those described in the decision), and the decision is later found to be incorrect you will not be liable to pay any penalty or interest. However, you will be required to pay any underpaid tax (or repay any over-claimed credit, grant or benefit), provided the time limits under the law allow it. If you do intend to apply this decision to your own circumstances, you will need to ensure that the relevant provisions referred to in the decision have not been amended or repealed. You may wish to obtain further advice from the Tax Office or from a professional adviser.
Issue
Is the member, a self-employed person, entitled to a deduction under section 82AAT of the Income Tax Assessment Act 1936 (ITAA 1936) in respect of a personal superannuation contribution made to a complying superannuation fund when the member was aged 70 years and 6 months at the time the contribution was made?
Decision
No. The member is not entitled to a deduction under section 82AAT of the ITAA 1936 in respect of a personal superannuation contribution made to a complying superannuation fund when the member was aged 70 years and 6 months at the time the contribution was made.
Facts
The member made a contribution to a complying superannuation fund.
The member met the requirements of being an 'eligible person' in section 82AAS of the ITAA 1936.
At the time of the contribution, the member was aged 70 years and 6 months.
Reasons for Decision
Section 82AAT of the ITAA 1936 allows a deduction for personal superannuation contributions in certain circumstances. However, while all criteria in that section may be met, section 82AAT is limited in its application by section 26-80 of the Income Tax Assessment Act 1997 (ITAA 1997).
Section 26-80 of the ITAA 1997 requires that for a deduction to be allowable for personal superannuation contributions, those contributions must be made:
on or before the day that is 28 days after the end of the month in which [the member] turn[s] 70 years old.
As the member did not make the relevant contribution before that time, no deduction is allowable.
Date of decision: 7 April 2004Year of income: Year ended 30 June 2003
Legislative References:
Income Tax Assessment Act 1936
section 82AAS
subsection 82AAS(2)
section 82AAT
section 26-80
Keywords
Superannuation contributions - deduction and rebates
ISSN: 1445-2782