Superannuation Update

Did you know that you can claim Superannuation Deduction in your Tax Return 2017/2018 provided that you provided notice to your super fund.

Since 1 July 2017, all eligible Australians under the age of 75 can claim tax deductions for personal super contributions, subject to the annual concessional contributions cap.

Before,  you can claim income tax deductions for your personal contributions where less than 10% of your assessable income, your reportable fringe benefits and your reportable employer superannuation contributions (e.g. salary sacrifice contributions) for the year were from being an employee. This rule no longer exists.

To claim tax deduction for after-taxed super contribution, the following conditions must be satisfied:

  • Age – All individuals under the age of 65 are eligible. Those aged 65 to 74 who meet the superannuation ‘work test’ (work for at least 40 hours in a period of not more than 30 consecutive days in the financial year in which you plan to make the contribution). For those aged 75, the contribution must be made no later than 28 days after the end of the month in which you turn 75. Older taxpayers are ineligible.
  • Minors – If the individual is under 18 at the end of the income year in which the contribution is made, they must derive income in that year from being an employee or carrying on a business.
  • Complying Fund – The contribution must be made to a complying superannuation fund.
  • Notice Requirements – You must provide your superannuation fund with a Notice of intention to claim a deduction form (NOI) before you lodge your tax return in respect of that financial year. This can be obtained from the ATO website

Any enquiries about Tax Returns or Superannuation, don’t hesitate to contact us at (02) 4229 5133 or email :


Teresa Tran & Associates

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