To claim a tax deduction for personal super contributions SMSF members must complete a Notice of intent to claim or vary a deduction for personal super contributions.
Once received, a fund trustee must send a written acknowledgment, confirming they have received a valid notice of intent to claim a deduction. Members must receive the acknowledgment from their fund before they can claim the deduction on their tax return.
SMSF members considering rolling over or withdrawing their super should ensure they have an acknowledged notice of intent for any deduction before they initiate a rollover or close their account.
If a member gives their fund a notice of intent after they have rolled over their super interest to another fund (that is, closed their account) or withdrawn their super interest (paid it out of super as a lump sum), the notice won't be valid. This means the member will not be able to claim a deduction for the contributions they made before the rollover or withdrawal.
You can find more information on the eligibility to claim personal super contribution deductions and the valid notice of intent on our website.
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