Tax deductions for personal contributions

Everyone can now claim a tax deduction for a personal contribution

From 1 July 2017, the eligibility rules for claiming a deduction for personal super contributions have changed. Previously, this was only available to members who earn less than 10% of their income from salary or wages.

For contributions made on or after 1 July 2017, this restriction has been removed. This means that all individuals under 75 (including people aged 65 to 74 years who meet the work test) will be eligible to claim a deduction for personal super contributions made to an eligible super fund. This means you can make a post-tax contribution into your super account and claim a deduction for it. The contribution will be classified as a pre-tax contribution which will count towards your pre-tax contribution limit.

How to claim a deduction

If you wish to make a personal contribution and claim a deduction at the same time, use the Member & Spouse Contribution form. You can use this form to notify us that you intend to claim a tax deduction for this contribution.

Use the Notice of Intent to Claim a Tax Deduction form if you make a post-tax contribution via BPay or through your employer and wish to claim a tax deduction. You can use this form for multiple voluntary contributions and claim a tax deduction for all of your contributions for the financial year.

If you have previously notified us that you intend to claim a tax deduction and want to vary the claim amount, you will need to complete a Notice of intent to claim or vary a deduction for personal super contributions form. This form is available on the ATO website.

Contributions must be received before 30 June to claim a deduction. Any contributions received after 30 June will have to be claimed in the financial year they are received.  Allow for a few business days for the contributions to be processed into your account.

When you can’t claim a deduction

There are circumstances where you may not be able to claim a tax deduction for personal contributions including:

  • If your super has been ‘rolled-over’ into another fund prior to claiming
  • If you have commenced a pension
  • If you are aged 75 years or older or under the age of 18
  • If you have accessed the voluntary contributions under the First Home Super Saver (FHSS) Scheme

The full list of exemptions and conditions is available at the Australian Taxation Office (ATO) website.

You should also be aware that if you claim a tax deduction for a post-tax contribution it will not longer be eligible for a government co-contribution

Have questions?

If you have any questions about claiming a tax deduction you can contact us on 1300 033 166. TelstraSuper Financial Planning Advisers can also give you assistance over the phone around your contributions at no additional cost.  You can request a call from them using the online form