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Taxation of superannuation : analysis of the taxation of contributions


Over the last few years the interaction of section 274 and sections 82AAC and 82AAE of the ITAA36 have been explored. The result of such investigations where that taxpayers might be able to claim a tax deduction for certain contributions made to a superannuation fund and the fund not be assessable on such contributions. This outcome has come to be known as the controller contribution. The controller contribution is the situation where a person is both the owner of and an employee of a company. Taking advantage of the eligible employee' rules in s 82AAA of the ITAA36 the taxpayer makes a contribution to a fund and claims a deduction under ss 82AAC or 82AAE. The receiving fund excludes the contribution claiming it is not assessable under s 274 of the ITAA36. The Commissioner of Taxation after giving a number of favourable rulings on the subject issued a Media Release on 19 May 1999 where he reversed his previous position on such arrangements. This paper examines the operation of the above provisions

Author profile

Andrew Skinner
Andrew is the Principal of Andrew Skinner & Associates. He holds a Bachelor and Masters of Economics and is currently completing a Masters of Taxation. He is a fellow of the Tax Institute, and a member of Superannuation Australia and of the Taxpayers Association of Australia. - Current at 20 September 2005
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Taxation of Superannuation

Author(s):  Andrew SKINNER

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