The Chasers Channel

TCC 11- Claiming Personal Superannuation contributions - The Hidden Trap!



This episode is about claiming a tax deduction for your personal superannuation contribution on your income tax return and the hidden trap if the relevant paperwork has not been completed, lodged and acknowledged as being received by your superannuation fund.

In such cases, there is simply no way to claim the personal contribution as a deduction.

The tax law doesn’t provide any discretion to the ATO or the fund in this situation.

What you’ll learn: 

  • (1:17) Introduction and General Advice Disclaimer
  • (1:55) Claiming Personal Superannuation Contributions as Tax Deductions
  • (2:02) Importance of Lodging a Notice of Intent
  • (2:36) Explanation of the Notice of Intent for Superannuation Contributions
  • (3:25) Tax Implications of the Notice of Intent
  • (4:04) Deadlines for Lodging the Notice of Intent
  • (5:18) Common Errors in Submitting the Notice of Intent
  • (6:03) Importance of Communication Between Advisors and Accountants
  • Loads More…

Links and Resources:

ATO – Notice of intent to claim or vary a deduction for personal super contributions

SuperGuide – How to claim a tax deduction for personal super contributions

#Superannuation #TaxDeduction #FinancialPlanning #InvestmentStrategy #ATO