Q: I want to make a tax-deductible super contribution. I am trying to find the official form for claiming this type of deduction. Could you lead me to a link where I could find a generic S290-170 notice of intent to deduct? It would be great to have a generic list of forms that would assist self-managed super fund (SMSF) trustees.
Answer: You can download the ‘Notice of intent to claim or vary a deduction for personal contributions’ and form instructions from the Australian Tax Office (ATO) website. Click on the ATO links below to access the form, and for more information:
- Notice of intent to claim or vary a deduction for personal super contributions (and instructions)
- Claiming deductions for personal super contributions
For non-SMSF readers: Your super fund may have its own branded version of this form, which is still considered suitable by the ATO. You can verify with your super fund that the form they provide you to use for claiming a tax deduction for your
Background information: If you wish to claim a tax deduction for a super contribution, you must notify your super fund in writing. If you belong to a SMSF, as both a trustee and member of a SMSF, you have to formally notify yourself of the intention to claim a deduction. In theory, the trustee (you) isn’t aware of your intention to claim a tax deduction for your contributions until you inform the trustee.
You must lodge a ‘Notice of intent to claim a tax deduction for super contributions or vary a previous notice’ (section 290-170 notice) with your SMSF. You must receive acknowledgment of receipt of the notice from your SMSF (you) before you lodge your individual income tax return. The trustee (you) then uses the notice, to determine the treatment of the contributions for benefit component purposes, and to report the nature of the contributions in the SMSF’s annual return.
Note: In relation to the forms needed when running a SMSF, in my book DIY Super for Dummies (Wiley), I have included a special feature titled ‘form guide’ that flags most of the official forms required when running a SMSF, and where to obtain those forms. The ‘form guide’ feature appears throughout the book.
See also
- Tax-deductible contributions: timing the start of pension is essential
- Tax-deductible super contributions: Claim no more than your income
- Tax-deductible contributions: Meeting the 10% income test
- Who can make tax-deductible super contributions?
- Super concessional contributions: 2011/2012 survival guide
