The Bottom Line Business Advisory

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The Bottom Line Business Advisory Pty. Ltd.
is a CPA Practice

Claim deductions on your personal super contributions…

Claim deductions on your personal super contributions…

What are personal super contributions?

    • Personal super contributions are amounts you contribute directly to your super fund.
    • If you claim a tax deduction for these contributions, they become concessional contributions and are effectively from your pre-tax income. They are taxed within the fund at a rate of 15%.
    • If you don’t claim a tax deduction, they are considered non-concessional contributions and come from your after-tax income or savings. These contributions are not further taxed.

Claiming deductions for personal super contributions:

    • To claim a deduction for your personal super contributions, follow these steps:
      • Give your super fund a notice in the approved form.
      • Obtain an acknowledgment from the fund.
    • There are other eligibility criteria you must meet.
    • The personal super contributions you claim as a deduction count towards your concessional contributions cap.
    • Consider the possible impacts before claiming a deduction:
      • Exceeding your concessional (before-tax) contributions cap.
      • Paying Division 293 tax if your combined income and concessional super contributions exceed $250,000.
      • Affecting your super co-contribution eligibility.
    • Note: Deductions can only be claimed in whole dollars. Any residual cents remain non-concessional contributions.

Superannuation can be complex and involves various considerations to maximise your taxation. Feel free to reach out to us via phone or email for any help on your super.



All information was sourced from with the aid of copilot.

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