Personal tax deductible contributions

Personal tax deductible contributions

If you are under age 75 you will be entitled to claim a tax deduction on personal contributions. If you claim a tax deduction for your super contributions, ESSSuper is required to deduct 15% tax from those contributions. For information about reportable employer superannuation contributions, refer to the Contributing to super guide (AP.1).

If you intend to claim a tax deduction for your personal contributions to the Accumulation Plan, you must complete the Claiming or varying a tax deduction for personal super contributions Form (ES156) and lodge the form with ESSSuper.

You must lodge your request by the earlier of:

• the date you lodge your tax return 
• the end of the financial year after the contribution is made
• the date you withdraw your super from ESSSuper or start a pension or income stream
• the date you split contributions with your spouse or partner. 

ESSSuper must acknowledge receipt of your intent to claim a tax deduction in order for you to claim a tax deduction. ESSSuper can refuse to acknowledge your request in certain circumstances. You must also ensure that ESSSuper has acknowledged receipt of your request before you withdraw or transfer part, or all, of your benefit to another fund or commence an income stream. Otherwise you may not be able to claim a tax deduction for your contribution, or in the case of a partial withdrawal or transfer, you may only be able to claim a tax deduction for a proportion of your contribution.