Hi Everyone,
I'm currently working as a contractor and have a registered ABN. As I don't have a direct employer I was wondering how I go about salary sacrificing / doing Concessional contributions to my Superannuation ensuring it is done before tax so that it is included as a tax deduction come Tax Return.
I look forward for the answers.
Thank you.
You need to advise your super fund that you wish to claim X amount of contributions as a tax deduction before you lodge your 2024 tax return. The contributions have to be made before June 30 2024 but you don't need to decide how much you want to deduct until before you lodge.
Your super fund will provide you with a Notification of your intent to claim a deduction. You need this notification before you lodge.
Most super funds allow you to do this online and through your membership account.
Here is the ATO link on personal super contributions and the rules.
Label D12 on the tax return is where you enter the amount you are claiming.
You need to advise your super fund that you wish to claim X amount of contributions as a tax deduction before you lodge your 2024 tax return. The contributions have to be made before June 30 2024 but you don't need to decide how much you want to deduct until before you lodge.
Your super fund will provide you with a Notification of your intent to claim a deduction. You need this notification before you lodge.
Most super funds allow you to do this online and through your membership account.
Here is the ATO link on personal super contributions and the rules.
Label D12 on the tax return is where you enter the amount you are claiming.
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