Will putting my inheritance into super allow me to claim a tax
deduction on annual income?
Q.
I have recently come into a small inheritance. If I put some of
this inheritance into superannuation as a voluntary one off
contribution can I claim a tax deduction against my annual
salary?
A.
You cannot claim a tax deduction for personal contributions to
super if an employer is paying superannuation for you. You can
still contribute the money as an undeducted contribution and you
will not be liable for the 15% entry tax that would be incurred if
you claimed a tax deduction.
Each week financial advisor Noel Whittaker answers your
questions.
