Tax deductions on super contributions

You can check the amount of contributions your client has made by running a Portfolio Summary Report or Super Contributions Report in Adviser Online.

To check your client’s contributions via the Portfolio Summary Report:

1. Log in to Adviser Online
2. Search for an account using either the account name or number in the global account search bar
3. Click Reporting
4. Select Portfolio Summary using the check box
5. Choose to display in your browser (screen) or to download the report (PDF)
6. Click Generate.

To check your client’s contributions via the Super Contributions Report:

1. Log in to Adviser Online
2. Select Reporting from the left-hand navigation and select Client & adviser reporting
3. Select Download files from the options and Download adviser reports
4. Select Super Contributions Report from the drop-down list
5. Select the adviser code
6. Select the as at date for the report
7. Generate the report.

If the contribution has been classified incorrectly, the trustee requires documentation from your client to review the case. The trustee can only amend a contribution in limited circumstances, it must be satisfied that an incorrect classification of a contribution occurred:

• contrary to the original intentions of the remitter (the person or entity that made the contribution), and
• as the result of an administrative error.

The submission of any documentation that is requested by the Trustee as part of its consideration does not guarantee the approval of the request. Each case is individually assessed and, as part of the review process, the Trustee may request additional documentation or information.

This is limited to amendment requests to and from the following types of contributions:

• employer (super guarantee, salary sacrifice and other)
• personal non-concessional
• spouse.

If your request is approved, your request will be processed as per the instructions provided in the supporting documentation. As part of the reclassification of a contribution:

• any tax payable or paid on the contribution will be deducted or refunded where required
• any regulatory reporting impacted by the reclassification will be updated and resubmitted
• you will be notified if a sell down of assets is required to pay the contributions tax, if applicable.

If we are unable to process your request, you will be notified of this decision.

Please note, generally, once a contribution is made to the fund it can’t be returned. The ATO & APRA have a strict view, which provides fund trustees with very limited scope to return contributions based on an error.

We’ll send your client an acknowledgment that the deduction notice has been received once they’ve submitted the ATO Notice of intent to claim or vary a deduction for personal contributions form (NAT 71121) or a Deduction notice for personal contributions form found in Adviser Tools.

You’ll be able to download the Tax deduction notice acknowledgement letter in the Client correspondence page in Adviser Online.

You’ll be able to see the tax deducted from the account in the cash transactions once the deduction has been processed.

The amount that a client can claim as a tax deduction may not always equal the total personal contributions made as a result of a withdrawal after a contribution was made but before notice of intent to claim a tax deduction was submitted.

Withdrawals reduce the amount that a member can claim due to the proportioning rule where the tax-free and taxable components of a member’s super benefit are taken to be paid in the same proportion as the tax components of the member’s interest in the super fund.

The proportioning rule prevents the member from dictating which components to withdraw when a benefit is paid. That is, they can’t choose to withdraw just the tax-free component.