Background
- 2023FY
- client open a new AustralianSuper account. They already had a large positive balance ($5k)
- they also roll over their old super (Zurich or whatever) into AustralianSuper
- note client is self employed, so no employer contribution (super guarantee 11.5%)
- 2024FY
- TT help client put in $15k personal super
- unbeknownst to TT office March 2024:
- Zurich super had outstanding balance (-$500) for insurance payment.
- Zurich super must have requested a rollover from Australiansuper to cover the negative balance.
- AustralianSuper accepted it WITHOUT client or TT knowledge
- thus client can only claim $14.5k instead of $15k
- TT office was confused because our ATO portal + evidence showed $15k contribution
Answer