Claiming personal super contributions deductions

The removal of the 10% maximum earnings condition means more people may be eligible to claim a personal super contributions deduction this tax time.

Omnis Group can help you to understand if you are eligible and let you know if you need to:

• make personal (after tax) super contributions directly to your super fund before 30 June 2018, if you haven’t already contributed this financial year
• give your fund a Notice of intent to claim or vary a deduction for personal super contributions
• obtain acknowledgement from your fund of your notice of intent before lodging your 2018 tax return

Further ATO references:

• Change to personal super contributions deductions
• Claiming deductions for personal super contributions
• Super changes – frequently-asked questions

Read more about Omnis Group Financial Planning or call our team in Perth on 08 9380 3555.

Disclaimer: This article is for information purpose only and does not constitute advice and does not take into account any of your objectives, financial situation or needs. Before you make a decision about whether to acquire a financial product, you should obtain and read the product disclosure statement. NEO Financial Solutions: AFSL 385845 ABN 64 141 607 098

Source ATO