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Re: Deductions for after tax contributions

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Newbie

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IN the 2018 financial year I made after tax contributions to my fund (original fund). I then had to have another fund (second fund) for work reasons and started to make personal after tax contributions to second fund.

 

My understanding is that if I submit a notice of intent to claim deductions, I can then claim the amount I contributed as a deduction for my 2018 return.


With all the articles about having one super account I deduced to combine my super accounts. I rollled over my original fund balance into my second fund.

 

I am now attempting to submit my intent to claim form.

 

Can I claim a deduction by sending the notice to the second fund for the contributions I made to the original fund, given that the balance now sits in the second fund? All of this occurred in the same tax year and I am not drawing a pension.

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ATO Certified Response

Devotee

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Hi @newtax,

 

Excellent question!

In order to claim a deduction for personal super contributions, your fund needs to have records that confirm you've paid the contributions, as well as how much you've paid.

 

This should be relatively easy for the contributions you've made to your new fund, and you can send them a notice of intent to claim or vary a deduction for personal super contributions, provided you meet the rest of the eligibility criteria.

 

It may be more complicated when it comes to the money you've rolled over from your previous fund. Special rules apply if, after you made a contribution, you made a withdrawal or rolled over part or all of your super.

 

We'd encourage you to contact your new fund to discuss your situation so you can complete your notice of intent to claim correctly. If you send your fund an invalid notice of intent, they aren't allowed to acknowledge it, and you'll need to submit a new notice before you can claim the deduction.

 

Thanks.

1 REPLY 1

Most helpful response

ATO Certified Response

Devotee

Replies 0

Hi @newtax,

 

Excellent question!

In order to claim a deduction for personal super contributions, your fund needs to have records that confirm you've paid the contributions, as well as how much you've paid.

 

This should be relatively easy for the contributions you've made to your new fund, and you can send them a notice of intent to claim or vary a deduction for personal super contributions, provided you meet the rest of the eligibility criteria.

 

It may be more complicated when it comes to the money you've rolled over from your previous fund. Special rules apply if, after you made a contribution, you made a withdrawal or rolled over part or all of your super.

 

We'd encourage you to contact your new fund to discuss your situation so you can complete your notice of intent to claim correctly. If you send your fund an invalid notice of intent, they aren't allowed to acknowledge it, and you'll need to submit a new notice before you can claim the deduction.

 

Thanks.