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What is a superannuation contribution

Section: 2.1

2.1. What is a superannuation contribution?

In Tax Ruling TR 2010/1 the ATO states:

"a [superannuation] contribution is anything of value that increases the capital of a superannuation fund provided by a person whose purpose is to benefit one or more particular members of the fund or all of the members in general"

The purpose of the contribution is to increase the capital of a superannuation fund which is different to contributions derived from income, profit or gain from a superannuation fund's investment activities.

The capital of a superannuation fund may be increased directly by:

  • transferring funds to the superannuation provider
  • rolling over a superannuation benefit from another superannuation fund
  • transferring an existing asset to the superannuation provider (an in-specie contribution)
  • creating rights in the superannuation provider (also an in-specie contribution), or
  • increasing the value of an existing asset held by the superannuation provider.

The capital of a superannuation fund can also be increased indirectly by:

  • paying an amount to a third party for the benefit of the superannuation provider
  • forgiving a debt owed by the superannuation provider; or
  • shifting value to an asset owned by the superannuation provider

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Friday, July 9, 2021