Superannuation: Complying Fund (Refund of Tax Paid)

Whether the taxpayer can claim a refund from the ATO for tax paid by a complying superannuation fund on the taxpayer's personal contributions.

No. The taxpayer cannot claim a refund from the ATO.

During the income year, the taxpayer makes personal superannuation contributions to a superannuation fund. The taxpayer notifies the trustee of the superannuation fund under subsection 82AAT(1A) ( Income Tax Assessment Act 1936 (ITAA 1936)) of the intention to claim an income tax deduction in respect of part of the personal contributions. The amount covered by the notice is a 'taxable contribution' in accordance with section 274 (ITAA 1936). The amount is included in the assessable income of the fund under section 281 of the ITAA 1936 during the same year of income (and is taxed at the rate of 15%).

Prior to the end of the income year, the taxpayer is paid an eligible termination payment and ceases to be a member of the fund. After the end of the income year, the taxpayer realises that the notice to the trustee of the superannuation fund was incorrect, as it overstated the amount the taxpayer intended to claim (and did in fact claim) as a deduction under section 82AAT.

The taxpayer seeks a refund from the ATO of the tax paid by the fund in respect of the overstated contribution.

The taxpayer is unable to claim a refund from the ATO for tax paid by a superannuation fund because the tax is paid by the superannuation fund in respect of the assessable income of the superannuation fund. There is no provision allowing a taxpayer to claim a refund in this situation.