In order for personal contribution to be deductible, there are a number of conditions which must be met.

Claiming a Deduction for Superannuation Contributions

One of them is the taxpayer must notify the fund trustee in writing that he/she intends to claim a tax deduction (s 290-170).

Also, the superannuation fund trustee must acknowledge receipt of the notice in writing and for the deduction to hold that notice must be in the possession of the individual. Therefore, an individual is not allowed to lodge their tax return with that deduction unless they have the notice.

Currently, there may be some misunderstandings between individual taxpayers and the official substantiation requirements surrounding a personal deductible superannuation contribution. Essentially, from an individual taxpayer’s perspective when they made the contribution, it may be their intention to claim a deduction. However, they may be unaware of the fact that they haven’t informed the super fund of that.

Source: CCH IQ Weekly update 04/06/2018