Zurich Master Superannuation Fund
Notice of intent to claim or vary a deduction
for personal super contributions form
Notice of Intent to claim a tax deduction for super contributions. Under subsection 290-170 of the Income Tax
Assessment Act 1997
Important
To claim a deduction for your contribution you must have given your superannuation fund a valid
notice of your intent to claim a deduction, in the approved form (attached), on or before the day
you lodge your income tax return (or the end of the next income year, whichever occurs first), and
the Fund must have given you an acknowledgement of their receipt of the notice.
A Tax File Number (TFN)
Your super fund is authorised to request your personal details, including your TFN, under the Superannuation Industry (Supervision) Act 1993,
the Income Tax Assessment Act 1997 and the Taxation Administration Act 1953. It is not an offence not to provide your TFN. However, if you
do not provide your TFN, and Zurich doesn’t already hold your TFN, we will not be permitted to accept the contribution(s) covered by this
notice. For more information about your privacy please refer to the Important Notice section of this form.
B Details of member giving this notice
Name
Date of Birth
Current residential address
State Postcode
Postal address
Phone: Home (
) State Postcode
Business (
Mobile
)
Email
C Superannuation fund’s details
Fund name
Zurich Master Superannuation Fund ("the Fund")
Fund ABN
78 000 880 553
Member’s investment number
ZU10911 - V8 06/15 - KDEG-008055-2013 - NAT 71121-11.2014
Zurich plan
D Contribution details and amount to be claimed
PERSONAL CONTRIBUTIONS DETAILS
Is this Notice varying an earlier Notice?
Yes
No
If you answered “No” complete the Original Notice to claim a Tax Deduction section below.
If you answered “Yes” complete the Variation of previous valid notice of intent section overleaf.
ORIGINAL NOTICE TO CLAIM A TAX DEDUCTION
Financial year ended 30 June
My personal contributions to this Fund in the above financial year.
$
The amount of these personal contributions I will be claiming as a tax deduction. $
IMPORTANT – Please ensure you complete and sign the Declaration overleaf. This Notice is invalid without this declaration completed.
EDeclaration
This form has a declaration where you say the information in it is correct and complete. Please review the information before you sign the
declaration. If you provide false or misleading information, or fail to take reasonable care, you may be liable to administrative penalties imposed
by taxation law.
INTENTION TO CLAIM A DEDUCTION:
Complete this declaration if you have not previously lodged a Notice with this Superannuation Fund for these contributions.
I declare at the time of lodging this Notice:
• I intend to claim the personal contributions stated as a tax deduction
• I am a member of the identified superannuation fund
• The identified superannuation fund currently holds these contributions and has not begun to pay a superannuation income stream based in
whole or part on these contributions
• I have not included any of the contributions in an earlier valid Notice
I declare that I am lodging this notice at the earlier of either:
• Before the end of the day that I lodged my income tax return for the income year in which the personal contributions covered by this notice
were made, or
• Before the end of the income year following the year in which the contribution was made.
I declare that the information given on this Notice is correct and complete.
Member’s name
Signature
Date
7
/
/
VARIATION OF PREVIOUS VALID NOTICE OF INTENT:
Financial year ended 30 June
My personal contributions to this Fund in the above financial year.
$
The amount of these personal contributions claimed in my original Notice of Intent
$
The amount of these personal contributions I will now be claiming as a tax deduction.
$
Declaration
This form has a declaration where you sign to indicate that the information in it is correct and complete. Please review the information before
you sign the declaration. If you provide false or misleading information, or fail to take reasonable care, you may be liable to administrative
penalties imposed by taxation law.
Complete this declaration if you have already lodged a valid Notice with your Fund for these contributions and you wish to reduce the
amount stated in that Notice.
VARIATION OF PREVIOUS VALID NOTICE OF INTENT:
I declare that at the time of lodging this Notice:
• I intend to claim the personal contributions stated as a tax deduction
• I am a member of the identified superannuation fund
• The identified superannuation fund currently holds these contributions and has not begun to pay a superannuation income stream based in
whole or part on these contributions.
I declare that I wish to vary my previous valid notice for these contributions by reducing the amount I advised in my previous Notice and I
confirm that either:
• I have lodged my income tax return for the year in which the contribution was made, prior to the end of the following income year, and this
variation notice is being lodged before the end of the day on which the return was lodged, or
• I have not yet lodged my income tax return for the relevant year and this variation notice is being lodged on or before 30 June in the financial
year following the year in which the personal contributions covered by the notice were made, or
• The ATO has disallowed my claim for a deduction for the relevant year and this notice reduces the amount stated in my previous valid notice
by the amount that has been disallowed.
I declare that the information given on this Notice is correct and complete.
Member’s name:
Signature
Date
7
Please return this form to
Zurich Australian Superannuation Pty Limited
Locked Bag 994
North Sydney NSW 2059
/
/
Zurich Master Superannuation Fund
Contribution taxation advice – important notice
Important:
To claim a deduction for your contribution you must have given your superannuation fund a valid notice of your intent to claim a
deduction, in the approved form (attached), on or before the day you lodge your income tax return (or the end of the next income
year, whichever occurs first), and the Fund must have given you an acknowledgement of their receipt of the notice.
Eligibility to contribute to superannuation
Amount covered by notice
Generally, you can only contribute to superannuation if you are
less than 65 years of age or aged between 65 and 75 and are
gainfully employed on ‘at least a part-time basis’ (this means gainful
employment of at least 40 hours in a period of not more than 30
consecutive days in the financial year in which the contribution was
made). Contributions are also allowed to be made in other limited
circumstances.
The amount shown by you on the notice that you intend to claim as a
tax deduction for the relevant tax year must not have been advised to
Zurich on any previous notice.
Eligibility to claim a tax deduction for
superannuation contributions
For the purposes of the enclosed notice you are generally considered
to be eligible to claim a tax deduction for superannuation
contributions if your assessable income + reportable fringe benefits
+ reportable employer superannuation contributions (from 1 July
2009) attributable to eligible employment is less than 10% of your
total assessable income plus reportable fringe benefits and reportable
employer contributions from all sources for the financial year. An
unemployed person may be an eligible person.
When an eligible person reaches age 75, they can claim a deduction
only if it is made before the 28th day of the month following their
75th birthday, or for Superannuation Guarantee or Mandated
contributions. If you are uncertain as to whether you satisfy this
definition, we suggest that you contact your financial adviser or
accountant for advice.
You can claim for a deduction for your personal superannuation
contributions if all of the following apply:
Contribution caps
Contributions caps limit how much may be contributed to an
individual’s super in a particular financial year without the member
incurring excessive contributions tax.
Contributions are counted towards the cap in the financial year in
which they are received and credited by your super fund.
Concessional contribution cap
Generally, a concessional contribution is a contribution that is made
by you, as an eligible person*, or made for you (e.g. from your
employer), to a complying super fund for which a tax deduction is
claimed by the contributor.
The concessional contributions cap is the limit on the amount of
concessional contributions that can be made each year before you pay
extra tax.
If you have more than one fund, the total of all concessional
contributions made to your funds1 are added together and count
towards the cap.
1
If you are also a member of a “Constitutionally Protected Fund” (CPF),
concessional contributions made to the CPF will not be counted towards
your concessional contributions cap. CPFs are generally operated by some
state governments in Australia for their Employees.
•
you are still a member of your super fund when you give your
fund trustee a valid notice in the approved form, on time
•
when you give your notice, your fund has not begun to pay an
income stream (for example, a pension) based on part or all of
the contributions for which you intend to claim a deduction
* Refer to section “Eligibility to claim a tax deduction for superannuation
contributions”.
•
you have received acknowledgment from your fund of your
intention to claim a deduction
Non-concessional contributions are generally the ‘after-tax’
contributions you make to a super fund.
•
your fund has accepted your contribution for which you want to
claim a deduction
•
the amount you intend to claim as a deduction is covered by one
or more valid notices
The non-concessional contributions cap is the limit on the amount of
non-concessional contributions you can make each year before you
pay extra tax, and is six times the amount of the general concessional
contributions cap, which is indexed each year.
•
you have not applied to split the contribution
•
for which you intend to claim a deduction
•
you meet the other eligibility criteria to claim a deduction. this can
be found by visiting the ATO’s website at www.ato.gov.au and
searching for ‘claiming deductions for personal super contributions’
•
you have not withdrawn an amount or rolled out to another
fund all or part of the contribution for which you want to claim a
deduction (except where there has been a successor fund transfer
to another fund).
•
A ‘successor fund transfer’ occurs when your super interest is
transferred to another super fund (the successor fund) and that
fund confers rights on that interest equivalent to those you had
under your original fund. Typically this occurs when your fund is
merged with another.
Non-concessional contribution cap
Excessive concessional contributions
The ATO monitors all contributions made on your behalf and
will notify you if you exceed the maximum concessional or nonconcessional contributions cap and are required to pay additional
tax. You can nominate this additional tax to be paid from your
superannuation fund.
Further information
For details of current contribution caps and the amount of tax payable
on excessive contributions, please speak with your financial adviser
or refer to either Zurich’s website, www.zurich.com.au, or to the
Australian Taxation Office website, www.ato.gov.au.
Zurich Master Superannuation Fund
Contribution taxation advice – important notice
Signing the Declaration in Section E
Your privacy
There are two declarations to choose from:
Zurich is bound by the Privacy Act 1988 (Cth). In completing the forms
or questions herein you will be providing us with your personal and,
perhaps, sensitive information. The collection and management of
this information is governed by the Privacy Act 1988. For a more
detailed explanation of Zurich’s Privacy Policy please visit our website
at www.zurich.com.au or contact the Zurich Privacy Officer on
132 687 or email us at [email protected].
1. Intention to claim a tax deduction
Complete this declaration if you have not previously notified your
super fund that you are intending to claim a tax deduction for the
personal contributions listed in this notice.
2. Variation of previous valid Notice of Intent
Complete this declaration if you have already lodged a valid Notice
with your Fund for these contributions and you wish to reduce the
amount stated in that Notice.
Changing an amount previously included on a valid notice.
If you wish to reduce the amount you intend to claim as a
deduction, you will need to lodge a variation to your original notice
of intent sent to your fund. The variation does not alter a previous
notice; instead, it is a new notice which replaces a previous valid
notice and shows the amount of the contributions which you now
want to claim as a tax deduction in Section D of this form, place an X
in the ‘Yes’ box at the question ‘Is this varying an earlier notice’ and
then complete the “Variation of previous valid Notice of Intent”
in Section E of this form.
Important: You cannot vary a previous valid notice if your fund no
longer holds the contribution covered by that previous valid notice, if
you are no longer a member of the fund, or if the trustee has begun
to pay an income stream based on all or part of the contribution
covered by the previous valid notice - for example, your fund has
begun paying you a pension.
Tax File Number (TFN)
We are authorised to collect your TFN under the Superannuation Industry (Supervision) Act 1993 and we may use or disclose
your TFN for the purposes of administering your superannuation
benefits (including calculation of applicable taxes).
This information is current as at 1 July 2015. We recommend that
you speak to your financial or taxation adviser to discuss how this
information affects your superannuation and taxation.
Once you have lodged your tax return you cannot apply to vary the
amount you are claiming as a personal deduction, unless the ATO
have disallowed your claim for the deduction.
Tax on contributions
A maximum tax of 15% is payable by the Fund on taxable contributions
(unless excessive contributions have been made as determined by
the ATO). Please note that Contribution Tax is not deducted on those
contributions used solely to fund insurance premiums.
Generally when Zurich is notified of a taxable contribution, the
contribution tax is calculated and deducted from your account using
the unit price applicable at the day the contribution was credited to
your account.
There are times where personal contributions made are not identified
as a taxable contributions (i.e. they are identified as a non-concessional
contributions), and you subsequently notify Zurich that all or part of
the contribution needs to be treated as taxable as you intend to claim
a tax deduction. In this instance you will need to fill in a ‘Notice of
intent to claim a tax deduction’ form. Following receipt of your written
notification that you intend to claim a deduction for some or all of your
contributions; we will need to debit the appropriate contributions tax
to your account. The contributions tax debit transaction will be backdated to the date on which your contribution was credited to your
account. The unit price that will be applied to the tax debit will be the
price that was applicable on the date the contribution was credited to
your account.
Zurich Australian Superannuation Pty Limited ABN 78 000 880 553, AFSLN 232500
5 Blue Street North Sydney NSW 2060