Can a deduction in 2011 from my retirement lump sum for unpaid spouses's and children contributions be claimed for tax relief in a previous year i.e. 2010?
The deduction relates to added years as part of the professional added years scheme for public servants. The spouses and childrens contributions for the added years are usually deducted from the lump sum payable on retirement at a rate of 1% of the final reckonable remuneration per added year granted under the scheme.
Brenmac,
The deduction of 1% for professional added years can only be deducted at retirement as added years can only be awarded at retirement. As the added years are a bonus and don't relate to earlier years I don't know how you could claim tax relief for 2010 on them - just my opinion.
E
My understanding is that spouses & childrens contributions are regarded as a contribution to the main superannuation scheme and in this instance tax relief can be spread backwards up to 10 years