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17 Jan 07 No deduction for non-complying super contribution - Wensemius

The AAT has rejected a taxpayer's claim for a deduction for an amount purportedly paid as a superannuation contribution to a fund which the taxpayer sought to characterise as a non-complying superannuation fund established in New Zealand. The AAT held that the fund was established predominantly for tax purposes and not to provide superannuation benefits. On this basis, no deduction was allowable under s 82AAE ITAA 1936. Nor was a deduction available under s 8-1 ITAA 1997. If, contrary to these findings, a deduction was allowable, the AAT considered that Part IVA would apply to deny the deduction.

Wensemius and Anor and FCT [2007] AATA 1006 (AAT; Block DP and Frost M; 11 January 2007).

For a copy of the decision, go here

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