This very issue was the subject of a recent private binding ruling (released 25 March 2024). The taxpayer had for a number of years made personal superannuation contributions for which the taxpayer claimed a tax deduction. The actual amount of each of these contributions was not provided in the published ruling.
tax deduction
How do you make your philanthropy work best?
Australia ranks third in the World for philanthropic giving, with 73% of Australians making a charitable donation.
More options to contribute to your superannuation
Over the last 10 years, the ability of Australians to contribute more to superannuation has reduced. Superannuation is a great system which has led to Australia having the fourth largest pool of retirement savings in the world.
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