Announcements
Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
Still not sure? Ask the Community

ATO Community

Re: Unused Concessional Contributon Rollover and NAT 71121 Notice of intent to claim or vary a deduc

Newbie

Views 58

Replies 1

After checking ATO/MyGov I've confirmed I have unused concessional contribution amount for 18/19-$xx, 19/20-$yy and will also have an unused amount for 20/21-$zz.

If I were to deposit sum of (xx+yy+zz) into my super fund prior to June 30 2021 do I simply claim this lump sum on NAT 71121 form for 20/21 ?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee Registered Tax Practitioner

Replies 0

 

After checking ATO/MyGov I've confirmed I have unused concessional contribution amount for 18/19-$xx, 19/20-$yy and will also have an unused amount for 20/21-$zz.

If I were to deposit sum of (xx+yy+zz) into my super fund prior to June 30 2021 do I simply claim this lump sum on NAT 71121 form for 20/21 ?

 

 

Yes  -  as long as your total super balance was under $ 500 K at 30/06/2020.

 

 

1 REPLY 1

Most helpful response

Devotee Registered Tax Practitioner

Replies 0

 

After checking ATO/MyGov I've confirmed I have unused concessional contribution amount for 18/19-$xx, 19/20-$yy and will also have an unused amount for 20/21-$zz.

If I were to deposit sum of (xx+yy+zz) into my super fund prior to June 30 2021 do I simply claim this lump sum on NAT 71121 form for 20/21 ?

 

 

Yes  -  as long as your total super balance was under $ 500 K at 30/06/2020.