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snowball(Newbie)Newbie
10 Oct 2021

Hi, I plan to transfer a lot of public listed shares into my super account. My questions are: 1. Will these be concessional (before tax) or will this be non concessional (After tax) contributions? 2. Based on this ato page, this is a concessional contribution. Is this correct? https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Claiming-deductions-for-personal-super-contributions/ 3. If this is concessional contribution, this means I can claim tax deduction for this contribution. Is this correct? 4. The method to claim the distribution is: I transfer the lot of shares into my SMSF and then I submit the intent to claim the deduction ( Notice of intent to claim or vary a deduction for personal super contributions (NAT 71121) ) in the year I will claim the deduction. Is this correct? per this ATO website: https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Claiming-deductions-for-personal-super-contributions/?anchor=Howtomakeaclaim#Howtomakeaclaim Thanks.

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9,147 views
2 replies

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Bruce4Tax(Taxicorn)Taxicorn
10 Oct 2021

1. Will these be concessional (before tax) or will this be non concessional (After tax) contributions? ** Can be either/both - depending on caps for CC and NCC 3. If this is concessional contribution, this means I can claim tax deduction for this contribution. Is this correct? ** Yes 4. The method to claim the distribution is: I transfer the lot of shares into my SMSF and then I submit the intent to claim the deduction ( Notice of intent to claim or vary a deduction for personal super contributions (NAT 71121) ) in the year I will claim the deduction. Is this correct? ** Yes, subject to contribution caps

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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
10 Oct 2021

1. Will these be concessional (before tax) or will this be non concessional (After tax) contributions? ** Can be either/both - depending on caps for CC and NCC 3. If this is concessional contribution, this means I can claim tax deduction for this contribution. Is this correct? ** Yes 4. The method to claim the distribution is: I transfer the lot of shares into my SMSF and then I submit the intent to claim the deduction ( Notice of intent to claim or vary a deduction for personal super contributions (NAT 71121) ) in the year I will claim the deduction. Is this correct? ** Yes, subject to contribution caps

snowball(Newbie)Newbie
11 Oct 2021

Thanks for your response. BUt actually the one that makes me confused the most is about the type (before/after tax contribution) of the contribution. Since when I change the shares from under my name to my Super's name, I understand there will be a cap gain/loss... This means I will be paying tax? So does it mean my contribution will be an after tax contribution? or non concessional contribution? And if I am doing a non concessional contribution or after tax contribution, that means I can have tax deduction for this contribution? Thanks beforehand.

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