Claiming a tax deduction for personal super contributions

Members of self-managed super funds (SMSFs) that are eligible can claim an income tax deduction on personal super contributions. Members that intend to do this must notify their fund trustee before lodging their 2019 individual tax return.

The eligibility requirements to claim a deduction for personal super contributions include:

  • Contributions that were made before 1 July 2017 were made to a complying super fund or retirement savings account.
  • Contributions that were made on or after 1 July 2017 were made to a fund that was not:
    • A Commonwealth public sector super scheme for which you have a defined benefit interest.
    • A constitutionally protected fund or another untaxed fund that did not include your contribution in its assessable income.
    • A super fund that notified the ATO before the start of the income year that they would treat all member contributions as non-deductible.
  • Members must meet the age restrictions:
    • If you are aged 75 or older, you can claim a deduction for contributions made before the 28th day of the month after you turned 75.
    • If you are aged 65 or older, you must satisfy the work test or meet the work test exemption criteria in order for your fund to accept your contribution for which you can claim a deduction.

Prior to lodging their 2019 tax return, eligible members must ensure that they supply the SMSF trustee with a notice of intent to claim or vary a deduction for personal super contributions. They must also provide a written acknowledgement from the SMSF trustee of the notice of intent.

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