No deduction for super as NOI not submitted by due date
Posted by Admin
The AAT has ruled that a taxpayer was not able to claim a tax deduction for personal superannuation contributions of $9,600 for 2018/19 because he did not submit his notice of intent (NOI) to claim form on or before 3 July 2019 as required by s 290-170(1) of the ITAA 1997. The AAT also dismissed the taxpayer’s claim that he was suffering emotional and financial hardship after being made redundant due to COVID and that the stress he experienced made him unable to lodge his claim by the statutory time limit. However, the AAT stated there was no discretion in the relevant legislation to disregard non-compliance with the time limit or to extend the time for the notice to be given to the trustee of the superannuation fund. (Khanna and FCT  AATA 33, 14 January 2022). Comment: this case is a good reminder that individuals must provide a valid NOI form to their superannuation fund within the required timeframes otherwise they risk missing out on claiming a tax deduction.