Superannuation Discussion + market volatility

[SydneySwan]

Can't find an answer to this question on the ato site, if anyone knows a reference?
Can you claim a deduction (it will be >$30k with the bring forward rule) from an accumulation contribution that has been transferred into a pension account at time of submitting the "notice of intention..."?
Plan to put in $120k into mrsB super accumulation account this month then tsf almost all the accumulation balance to a pension account (same superfund Unisuper), iff can still later this calendar year (when '26 tax obligations are clearer) claim part of the $120k as a concessional contribution.

I would imagine this is legal but I am not sure.

When you put in the notice of intention form to claim a tax deduction, the super fund will immediately deduct 15% tax based on the amount you are claiming. If you no longer have sufficient balance in the accumulation fund to cover this then it will notify the ATO who will charge the debt to your personal tax account.

 

[burmans]

This is what I found.

Importantly, you need to submit the form of your intention to claim a tax deduction and receive acknowledgement from your super fund before:

• Completing your individual tax return for the relevant year;
• Transferring your super to a different super fund;
• Using all or some of your super to start an income stream;
• Withdrawing some or all of your super balance; and
• At the end of the financial year after the year, the contribution was made.

 

[Quickstatus]

and have cleansed $119,000

You mean change it from concessional to non concessional?

 

[Pushka]

You mean change it from concessional to non concessional?

Yes. Non concessional contribution = no tax to non dependents on death.