Claiming a tax deduction
Before you can claim a deduction
You must complete and return a Notice of intent to claim or vary a deduction for personal contributions form. You will need an acknowledgement letter from us before you complete your tax return.
You may be able to claim a tax deduction for personal super contributions that you made to your super account from your after-tax income, for example, from your bank account directly to your legalsuper account.
Before you can claim a deduction, you must complete and return a Notice of intent to claim or vary a deduction for personal contributions form. You will need an acknowledgement letter from us before you complete your tax return.
There are other eligibility criteria that you must meet. For the full list of eligibility criteria, visit the ATO website.
- Your eligible personal contribution must be received by us before 30 June
- age-related conditions, including satisfying the work test for those aged 65-74
- a completed 'Notice of intent to claim' form, returned to legalsuper; and
- receipt of a written acknowledgement from legalsuper of your notice of intent, agreeing to the amount you intend to claim as a deduction.
The personal super contributions that you claim as a deduction will count towards your concessional contributions cap. When deciding whether to claim a deduction for super contributions, you should consider the super impacts that may arise from this, including whether:
- you will exceed your contributions cap;
- Division 293 tax applies to you;
- you wish to split your contributions with your spouse; and/or
- it will affect your super co-contribution eligibility.
For the 2019/20 year, a $25,000 limit applies for concessional contributions for all individuals. Amounts in excess of this limit will be subject to additional tax.
When to give your notice of intent
You must give a notice of intent to claim or vary a deduction to legalsuper by the earlier of the following:
- the day you lodge your tax return for the year in which you made the contributions
- the end of the income year following the one in which you made the contributions.
We must send you a written acknowledgement, advising that legalsuper has received a valid notice from you. To claim the deduction, you must receive the acknowledgement from us before you complete your tax return.
2019/20 financial year
If you made a personal contribution in the 2019/20 financial year, you have until the end of the 2020/21 financial year to complete and send legalsuper the Notice of Intent to claim, so long as you receive a written acknowledgement from us before you lodge your tax return.
What you can't claim
Not all personal contributions can be claimed as a tax deduction. These are some of the exclusions:
- Contributions that have been used to start an account-based pension
- Contributions which have been rolled over to another super fund
- Contributions which have been withdrawn from super
- Any contributions that are attributable to downsizer or First home super saver scheme
For more information visit the ATO website.
How to complete your tax return
When you complete your tax return, you can claim a deduction for the amount of the contribution stated in your notice of intent. If you want to claim an amount that is different (more or less) than what the notice says, you can vary your notice (see How to vary your notice of intent).
Make sure that you claim your deduction at the correct label in your tax return. Deductions for personal super contributions must be claimed at Personal superannuation contributions in the Individual tax return supplement.
If you are lodging through myTax, the deduction must be claimed at Personal super contributions.