In order for an individual to claim a tax deduction for a personal superannuation contribution a Notice of Intent to Claim must be submitted to their super fund.
The notice of intent to claim requirement is created by section 290.170 of the ITAA 1997, which says that:
You must give to the trustee of the fund or the RSA provider a valid notice, in the approved form, of your intention to claim the deduction.
Hence the notice of intent to claim is sometimes called a s290.170, or section 290, notice.
Update: note the potential changes announced in the 2016 Budget.
For the 2016/17 financial year the amount of the superannuation Concessional Contributions cap depends on the age of the member:
- For people who were at least 49 years of age on 30 June 2016 the cap is $ 35,000
- For other people the cap is $ 30,000