Claiming personal super contributions deductions

The removal of the 10% maximum earnings condition means more people may be eligible to claim a personal super contributions deduction this tax time.

Mitchell Partners can help you to understand if you are eligible and let you know if you need to:

• make personal (after tax) super contributions directly to your super fund before 30 June 2018, if you haven’t already contributed this financial year
• give your fund a Notice of intent to claim or vary a deduction for personal super contributions
• obtain acknowledgement from your fund of your notice of intent before lodging your 2018 tax return

Further ATO references:

• Change to personal super contributions deductions
• Claiming deductions for personal super contributions
• Super changes – frequently-asked questions

Our superannuation services include incorporation and administration of Self-Managed Superannuation Funds (SMSFs), attending to compliance matters, regulatory returns and superannuation tax advice. Call Mitchell Partners in Surrey Hills Melbourne on 03 9895 9333.

Source ATO