The ATO says its recent audit activity has identified a high rate of incorrect claims for deductions for personal super contributions in 2008 tax returns. According to the ATO, many of the incorrect claims are attributable to a failure to consider the new legislative requirements now governing this deduction.

You are eligible to claim a deduction if:

  • you satisfy the ‘maximum earnings as an employee’ condition
  • you meet the age-related conditions
  • you made personal contributions to a complying super fund or a retirement savings account (RSA)
  • you made the contributions in order to obtain super benefits for yourself, or for your dependants in the event of your death
  • you have written to your super fund or RSA provider, in the approved form Deduction for personal super contributions (NAT 71121), and advised them of the amount you intend to claim as a deduction, and
  • your super fund or RSA provider has acknowledged your notice of intent and agreed to the amount you intend to claim as a deduction.