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Pakama(Newbie)Newbie
22 May 2024

Our investment property contract was signed in April 2024 so that's when the CGT event occurred, we would like to put part of the proceeds into super to reduce our CGT but the property doesnt settle until July 2024. Do we have to make the payment into super before the EOFY even though we wont have the funds until July 2024? Thanks

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Taxduck(Taxicorn)Taxicorn
22 May 2024

Yes. This link below is to claiming a personal super contribution deduction for the 2022 year. It states under "eligible contributions":

To be eligible to claim a deduction:

  • the contributions must have been received by your super fund or RSA provider before 1 July 2022

So for 2024 your super fund needs to receive your contributions before July 1 2024.


https://www.ato.gov.au/individuals-and-families/your-tax-return/instructions-to-complete-your-tax-return/mytax-instructions/2022/deductions/other-deductions/personal-super-contributions#Eligiblecontributions

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Most helpful reply

Taxduck(Taxicorn)Taxicorn
22 May 2024

Yes. This link below is to claiming a personal super contribution deduction for the 2022 year. It states under "eligible contributions":

To be eligible to claim a deduction:

  • the contributions must have been received by your super fund or RSA provider before 1 July 2022

So for 2024 your super fund needs to receive your contributions before July 1 2024.


https://www.ato.gov.au/individuals-and-families/your-tax-return/instructions-to-complete-your-tax-return/mytax-instructions/2022/deductions/other-deductions/personal-super-contributions#Eligiblecontributions

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Investment property sold April24, settles July24 - can claim voluntary super in 2024 return? | ATO Community