Fixing incorrectly issued excess NCCs determinations
The ATO has recently identified a system error that inadvertently led them to issue incorrect pre-dated excess non-concessional
(superannuation) contributions ('NCCs') determinations to clients.
The ATO will extend the election due dates for all affected clients, so this issue will not disadvantage them, and will not take default
action in relation to these affected clients who do not make their election by the due date.
Amended determinations will automatically issue on a case-by-case basis in coming weeks to any clients that will have a modified excess NCC amount due once their income tax return is processed.
The Money Edge | Bundaberg