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.
NOTE: This feature is strictly for personal, voluntary superannuation contributions. Employer-paid superannuation should not be tracked here.
Rounded makes it easy to track super contributions. There are two options
Adding it directly via the super section
Adding it via bank feeds
Adding super contributions directly
In the Rounded mobile app, tap Menu in the bottom-right corner.
Tap Super contributions.
Tap the + sign.
Enter the Amount, select the Date, assign the Super Fund, and enter Notes when needed.
Tick if the super contribution is tax deductible, or untick if not
Click Save.
Adding super contributions via bank feeds
In the Rounded mobile app, tap Menu in the bottom-right corner.
Tap Bank feeds.
Find the super transaction, then swipe the left.
Tap Other.
Tap Super contribution.
Assign the Super fund and enter Notes when needed.
Tick if the super contribution is tax deductible, or untick if not.
Tap Save.
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