You can vary a previous valid notice of intent if:
- You have not yet lodged your tax return and it is on or before 30 June in the financial year following the year you made your contribution.
- The ATO disallowed your claim for a deduction and you’re applying to reduce the amount claimed as a deduction by the amount they’ve disallowed.
How you increase and decrease your deduction is slightly different.
You can
increase a deduction so long as you’re within the time limits specified above. To do this:
- Fill out a second Notice of Intent to Claim form.
- At question 10, ‘Is this varying an earlier notice’ in section C, place a ‘X’ in the ‘No’ box.
- Only submit your form with the extra amount you want to claim and submit the form.
For example, if you wanted to claim $18,000 overall, and you requested $15,000 on your first form, you’d only put $3,000 on this one.
To
reduce the amount you want to claim, you also submit a second Notice of Intent to Claim form.
- Fill out a second Notice of Intent to Claim form.
- On question 10 of this form, ‘Is this varying an earlier notice’ in section C, place a ‘X’ in the ‘Yes’ box.
- Enter the correct amount you wish to claim and submit the form.
Because this form replaces the original notice, you simply place the correct amount you wish to deduct. If it’s $18,000 overall, you put $18,000 on the form.