Private ruling: Deductibility of personal superannuation contributions
Date of advice: 20 December 2021
Published: March 2022
Ruling period: Year ended 30 June 2019
Date scheme commenced: 1 July 2018

Ruling: Q1: Can you claim a tax deduction for your personal superannuation contributions made in the 2018-19 income year under section 290-150 of the Income Tax Assessment Act 1997 (ITAA 1997)? | A1: No

Relevant facts and circumstances: During the 2018-19 income year you made voluntary superannuation contributions into your superannuation account. In your private binding ruling application, you advised that you did not lodge the required Notice of intent to claim or vary a deduction for personal contributions form (NAT 71121) for contributions made in the 2018-19 income year before 30 June 2020. As you did not lodge the required Notice of intent to claim or vary a deduction for personal contributions form (NAT 71121) before 30 June 2020, your superannuation fund has not issued you with an acknowledgement of receipt of a notice.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 290-150 | Income Tax Assessment Act 1997 section 290-170

Reasons for decision: Summary: Section 290-150 of the ITAA 1997 states that you can deduct a contribution you make to a superannuation fund or a retirement savings account for the purposes of providing superannuation benefits for yourself, in the income year that the contribution was made, provided all of the following conditions are satisfied: • the complying superannuation fund conditions under section 290-155 of the ITAA 1997; • if applicable, the maximum earnings as employee condition under section 290-160 of the ITAA 1997; • the condition that a contribution is not a downsizer contribution under section 290-167 of ITAA 1997; • the condition that a contribution is not a re-contribution under first home super saver scheme under section 290-168 of the ITAA 1997; • the condition that a contribution is not a re-contribution of a COVID-19 early release amount under section 290-169 of the ITAA 1997; • age-related conditions under section 290-165 of the ITAA 1997; and • the notice of intent to deduct conditions under section 290-170 of the ITAA 1997. Section 290-170 of the ITAA 1997 relevantly states: To deduct the contribution, or a part of the contribution: (a) you must give to the trustee of the fund or the RSA provider a valid notice, in the approved form, of your intention to claim the deduction; and (b) the notice must be given before: (i) if you have lodged your income tax return for the income year in which the contribution was made on a day before the end of the next income year - the end of that day; or (ii) otherwise - the end of the next income year; and (c) the trustee or provider must have given you an acknowledgment of receipt of the notice. To claim a tax deduction for contributions your made to your superannuation fund in the 2018-19 income year, you must give the trustee of the fund a notice of intent to claim the deduction before 30 June 2020. In addition, the trustee or provider must have given you an acknowledgment of receipt of the notice. As you did not provide a notice of intent to claim a deduction to your superannuation fund before 30 June 2020 and the trustee of the fund has not acknowledged receipt of the notice, the conditions under paragraph 290-170(1)(b) and 290-170(1)(c) have not been satisfied. Therefore, the conditions under section 290-150 of ITAA 1997 have not been met. As a result, you cannot claim a tax deduction for superannuation contributions made in the 2018-19 income year.