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Are there any circumstances where the ATO will allow a deduction to a member for late payment of a personal superannuation contribution? e.g. where the member's daughter was seriously ill with cancer and he needed to attend his daughter and the distraction caused him to overlook paying the contribution until 17 days post 30 June.
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Hi Stephen
I have not encountered this before. I would recommend you call the ATO Super help line on 13 10 20 and raise it with the ATO. The tax agent for the Fund / individual could also raise it as a query over the tax agent's portal.
The only example I have that is similar was for a Fund that paid its pension on the 1 July 2019 rather than by or on 30 June 2019. The ATO was contacted and the situation was explained. The ATO wrote to the tax agent of the Fund saying that the pension could be treated as being paid on 30 June 2019. (The issue was a timing issue where the pension payment showed in the bank statement on 1 July 2019)
The ATO has given guidance on when they will make allowances for pensions that are paid late but I am not aware of any guidance when contributions are received late.
Regards
SMSF AAA