How to complete a notice of intent to claim form
If you’re intending to claim a tax deduction for a personal contribution you have made to your super fund, or if you wish to make a variation to a previous intention to claim, this guide will help you to complete your form (from our experience, even the financially-savvy can find it to be a tad confusing!)
Where to find the form:
→ If you’re a Verve Super member you can find the form with Verve’s info pre-filled here. Please note that you’ll still need to enter all of your personal details though!
→ If you’re not a Verve Super member or prefer to enter everything yourself, you can find a blank copy of the notice of intent to claim form here.
Completing the form:
- Section A is your personal information. You’ll also need to include your TFN which you can find in the ATO section of your MyGov account.
- Section B is your super fund’s information. If you’re a Verve Super member, you can find a copy of the form pre-filled with Verve’s info here. You’ll still need to enter your Verve member number into this section.
If you’re not a Verve Super member, you should be able to find this information on your super fund’s website.
- Section C is where it can be a little more complicated, so let’s break it down:
Item 10: Is this notice varying an earlier notice?
This is asking if you’ve already lodged a notice of intent to claim form and whether you’re lodging another one for the same financial year because you want to update/vary what you’re intending to claim.
In most instances, if you are submitting this form for the first time this financial year, tick ‘No’, and continue onto Item 11.
On the other hand, if you have submitted a form this financial year – and it’s already been successfully processed by your fund – and you want to make a change to the amount claimed, then tick ‘Yes’, and then head to Item 14 and complete the rest of the Variation section of the form from there.
Item 11: Financial year ended 30 June 20 ⃞⃞
In Australia, the financial year runs from 1 July to 30 June. This is where you enter which financial year you’re intending to claim as a tax deduction.
Item 12: My personal contributions to this fund in the above financial year
This is where you enter the total amount that you’ve contributed as personal contributions to this fund during the financial year listed. For example, if you contributed $100 a month across the entire financial year, you would enter $1,200.00 here.
→ Tip! You may be able to find how much you’ve contributed via the ATO section of your MyGov account. Head to the Super section and then “Non-concessional contributions”. Please note however, if you’ve made contributions to more than one super fund or a withdrawal then this figure may not be your total claimable amount.
Item 13: The amount of these personal contributions I will be claiming as a tax deduction
This is where you enter how much of the total amount of contributions that you’ve listed in Item 12 that you’d like to claim. For example, if you’ve contributed a total of $1,200.00 in the financial year, and you want to claim all of it, you would enter $1,200.00 in Item 13 as well.
If you want to claim only a portion of the total, then enter that amount, for example $1,000.00 here. You cannot claim more than your total amount of claimable personal contributions.
- Section D – Read the disclaimers and if you agree, enter your name, signature and the date that you’re signing the form. If you’re submitting this as a notice of intent to claim (and not to vary a previous submission), you’re all set to hand it over to your super fund!
Look out for the heading that says VARIATION OF PREVIOUS VALID NOTICE OF INTENT.
Don’t complete this section if you’re submitting this form for the first time in this financial year. You only need to complete this section if you’ve successfully submitted a notice of intent to claim form before, and you need to update the amount you’re intending to claim.
Where do I return the form?
You’ll need to return the completed form to your super fund. Verve members can return it via email to email@example.com or post to PO Box 777, Surry Hills, NSW 2010
When can I return the form?
Generally speaking, you have until the end of the next financial year to lodge the form. For example, if you made a contribution today you would have the remainder of this financial year, and all of the next financial year or by the date you lodge your tax return for the financial year in which you made the contribution — whichever date comes first. Be sure to allow plenty of time for your fund to process it before you lodge your tax return.
How will I know that it’s been successfully processed?
Your super fund will provide you with a letter of acknowledgement to confirm the amount that you’ve successfully claimed.
If I claim my contributions, will I be eligible for the government co-contribution?
No, only unclaimed personal contributions can be considered for the government co-contribution. Find out more info about eligibility here. In some instances, you may wish to claim a portion of your contributions and leave the rest in order to be eligible for the government co-contribution. The ATO has a handy super co-contribution calculator here. This can be complicated, and an accountant or financial adviser can help you decide whether this applies to you.
What else should I know?
Because you’re making a declaration it is really important that you read the declarations on the notice of intent to claim form to understand what you are declaring!
If you give your fund a notice of intent after you have rolled over your entire super interest to another fund (closed your account) or withdrawn your entire super interest (paid it out of super as a lump sum), your notice will not be valid. This means you will not be able to claim a deduction for the personal contributions you made before the rollover or withdrawal. If you have partially rolled over or withdrawn your super interest (which included the contribution you made), your notice will not be valid for the entire contribution. You can only validly deduct the proportion of your contribution that remains in the fund.
In some circumstances your super fund may need you to update or resubmit the form, in which case they should provide you with detailed information to help you get it right.
You can find more information about submitting a notice of intent to claim, including details about eligibility on the ATO website.
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This blog is published by Verve Superannuation Pty Ltd (ABN 65 628 675 169, AFS Representative No. 001268903), which is a Corporate Authorised Representative of True Oak Investments Ltd (ABN 81 002 558 956, AFSL 238184), as the Sub-Promoter of Verve Super.
Verve Superannuation Pty Ltd and True Oak Investments Ltd are not licensed to provide personal financial advice. The information contained in this blog, including any financial guidance, is general in nature. You should consider seeking independent legal, financial, taxation or other advice to ensure that your financial decisions are suited to your unique circumstances.
Interests in Verve Super are issued by Diversa Trustees Limited (ABN 49 006 421 638; AFSL 235153; RSE Licence L0000635) as trustee of the Future Super Fund (ABN 45 960 194 277; RSE Registration R1072914). Verve Super is a sub-plan of the Fund. You should read the Product Disclosure Statement, Additional Information Booklet, Insurance Guide, Target Market Determination and Financial Services Guide before making a decision to acquire, hold or continue to hold an interest in Verve Super. When considering financial returns, past performance is not indicative of future performance.