New rules Individuals must have:
- Made personal contributions to a complying super fund or retirement savings account (RSA) - salary sacrifice contributions don't qualify
- Satisfied the 10 per cent test - generally less than 10 per cent of assessable income plus reportable fringe benefits can be from employment related activities
- Provided the super fund with a notice of intent to claim an income tax deduction in the approved form advising it of the amount they intend to claim as a deduction
- Received a formal acknowledgment of the notice from the fund before claiming the deduction.
If the individual is selected for audit and is found not to have met these requirements, their claim will be disallowed.
