Tax Commissioner's super myths, facts and tips

The Tax Office says it has identified some areas of confusion about the new superannuation reforms. It has published several myths, facts and tips (which will be regularly updated) to help taxpayers better understand the changes to super. One myth is that, until 30 June 2007, individuals can borrow $1 million to put into their super and claim the interest as a deduction. But the ATO says the fact is that interest is not deductible for individuals.