You may be able to claim a tax deduction on your next tax return for any personal (after-tax) super contributions you’ve made (if eligible). To receive the deduction, you’ll need to let us know by submitting a Notice of intent to claim a deduction form before you complete your tax return or before 30 June of the financial year following the year you contributed (whichever occurs earlier).
You must give a Notice of intent to us before whichever of the following happens earliest:
For example, if you made a personal contribution on 20 May 2024, you’ll need to provide us with your Notice of intent form by 30 June 2025 or before you submit your 2023/24 tax return (whichever occurs earlier).
The government sets limits on the amount you can contribute to super, known as contribution caps. If you overdo it with your contributions, you could find yourself with an unexpected tax bill. Find out more about the contribution caps and what happens if you go over the limits here.
If you have any questions about making personal super contributions or filling out your form, we’re here to help. You can call us on 1300 360 149, 8am-8pm weekdays (AET).
We’re also here to help you make decisions about your super. You can access advice about your super over the phone at no extra cost as part of your membership.* Book a call back with a CareSuper financial planner today.
You might be able to claim a tax deduction for your personal contributions if:
For more information about eligibility to claim a tax deduction for personal super contributions visit the Australian Taxation Office (ATO) website or call us on 1300 360 149.
If you claim a tax deduction on a personal (after-tax) contribution, then the contribution is counted as a concessional (before-tax) contribution and goes towards your concessional contribution cap. You can claim up to the concessional (before-tax) cap of $30,000 each financial year. Concessional contributions also include contributions made by your employer and salary sacrifice amounts. You may also be able to claim additional contributions under the 'carry forward rule' if eligible. Find out more about the contribution caps and the carry-forward rule here.
In MemberOnline, you can see your total contributions for the year to date. This includes your concessional (before-tax) contributions as well as any personal contributions you’ve made. To see your contributions, log in to MemberOnline and select the ‘Contribution Caps’ option from the drop-down menu.
If you’re planning to split part or all of your contributions with your spouse, but you also want to claim a tax deduction for them, you must provide us with a Notice of intent before lodging an application to split the contribution(s). If you lodge these the other way round and we’ve accepted your application to split your contribution(s), we won’t be able to accept your Notice of intent.
If you want to make a withdrawal from your CareSuper account and you’ve made a personal contribution that you’d like to claim a deduction for, you should give us a Notice of intent before making your withdrawal. If you’ve received a payment or had a partial rollover between the date of the contribution and submitting the Notice of intent (ie. Caresuper no longer holds all or part of the contribution), the amount available for you to claim will be pro-rated.
No, if you’re eligible to use the carry-forward rule you only need to complete a Notice of intent for the financial year in which you’ve made the contribution(s).
Note, your total superannuation balance (the combined value of all your super accounts) must be less than $500,000 on 30 June of the previous financial year to use the carry-forward rule. And you can only carry forward unused concessional contribution cap amounts from 1 July 2018.
Yes. You’ll need to complete section 3 of the Notice of intent to claim or vary a tax deduction for personal contributions form to reduce the amount claimed on a previous tax return. If you don’t want to claim any of your personal contributions on that tax return, you’ll need to reduce your claim amount to zero.
You can vary a notice until the due date for lodging a claim – see timing section above.
Once we receive your notice, we’re required to deduct 15% tax from those contributions.
Depending on your personal tax rate, claiming your contributions as a tax deduction may reduce the amount of tax you need to pay on your income.
You’ll see a tax adjustment debit on the date of processing. You’ll also see the claimed amount debited and re-credited as a concessional contribution on the last day of the financial year for which you claimed the deduction.
Send your completed form to us by submitting an enquiry via our contact us page and attaching your form.
Or post it to:
CareSuper
Locked Bag 20019
Melbourne Vic 3001
You won’t be eligible to receive a super co-contribution if you claim a tax deduction on all your personal contributions. If you only claim a deduction for some personal contributions, you may still be eligible to receive a super co-contribution. Visit the ATO website or contact us to find out more.
No, once you’ve moved some (or all) of your super into a pension account, you won’t be able to claim a tax deduction for these contribution(s).
In MemberOnline, you can see your total contributions for the year to date. This includes your concessional (before-tax) contributions such as those made by your employer and salary sacrifice amounts as well as any personal contributions you’ve made. To see your contributions, log in to MemberOnline and select the ‘Contribution Caps’ option from the drop-down menu.
Note: Your employer may still make further contributions for this financial year.
You must give a Notice of intent to us before whichever of the following happens earliest:
Once you claim a tax deduction, your contribution(s) are subject to the concessional tax rate of 15% instead of your marginal income tax rate. The amount you’ve claimed is deducted from your taxable income and you can claim the excess tax as part of your tax return.
*Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766.