Documentation to claim a deduction for personal Superannuation Contributions

31 Mar 13

31 Mar 13 Documentation to claim a deduction for personal super contributions

At the ATO’s Superannuation Consultative Committee (SCC) meeting held on 5 March 2013 the Superannuation Complaints Tribunal (SCT) noted an increase in complaints it has received in relation to tax deductions on superannuation contributions.
 The SCT highlighted the need to ensure that appropriate documentation is in place for individuals wishing to claim a tax deduction for personal superannuation contributions.

Individuals wishing to claim a deduction on contributions must inform their superannuation trustee in writing of their intention to claim. The superannuation fund must, in return, give to the individual an acknowledgement of receipt of the notice to claim. A failure to complete all appropriate documentation may result in a denial of the deduction.

With the financial year end approaching, members are encouraged to take the time to review contributions made during the year and ensure, where applicable, that the correct documentation has been completed to enable individual clients to claim a deduction for their personal super contributions.  

The Institute’s Head of Superannuation, Liz Westover, discusses personal superannuation contributions and notices to claim a deduction in the Institute’s Charter magazine article ‘The importance of paperwork’.  Further information can also be found in the ATO’s publications ‘Claiming deductions for personal super contributions’ and ‘ Notice of intention to claim a deduction for personal super contributions’ .