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24 Aug 1212 On large super fund trustees

MEMBER 177 writes:

"Once again, I asked a client to chase his super fund [a large fund with an APRA licensed trustee that is a wholly owned subsidiary of a large life company] for the usual Acknowledgement Letter re his super contributions for 2011-12 (after he had already given them the ATO Notice of Intent to Claim Form).

He received a letter acknowledging the contributions, but not an acknowledgement of receipt of a valid notice of intent to deduct contributions as required by s 290-170 ITAA 1997. I said that the letter isn't worth the paper it is written on for claiming a tax deduction for super - he said 'well that's the only letter [they] could write'.

Happens every year - Does the ATO chase the trustees of big funds to the same extent as it chases Mum and Dad? NO."

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