Superannuation, or super, is an excellent way to invest and save for your retirement. In some cases, contributions you make to your super fund are tax deductible, i.e. they reduce your taxable income for the financial year in which they are made.
If you are eligible and want to claim a tax deduction for your personal super contributions, you must first notify your fund that you intend to do so by completing a “Notice of Intent to Claim Form”.
Here’s some more info from the ATO. Please ensure you talk to your financial adviser or accountant for qualified advice relating to your own personal circumstances.
Rounded makes it easy to track super contributions. There are two options:
Add a super contribution manually
Add it via bank feed
Add a super contribution manually
Go to Deductions (left menu) → Super contributions.
Click Add contribution (or New contributions).
Enter Amount, choose Date, pick the Super Fund, and add Notes if needed.
Tick tax deductible only if you’re claiming it (check with your accountant or the ATO if unsure).
Click Save.
Add it via bank feed
Go to Bank feeds (left menu).
Hover the transaction → Others → Super contribution.
Choose the Super fund, add Notes, and tick tax deductible if needed.
Click Done.
NOTE: Check with your accountant or the ATO if you are unsure if the super contribution is tax deductible or not.
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