Contributing to your spouse’s super can help grow their retirement savings while potentially enabling you to receive a tax offset.
How can contributing to my spouse’s super result in a tax rebate?
If you and your spouse meet the eligibility criteria, an after-tax contribution of up to $3,000 can be made to the super account of the spouse (married, de-facto or same-sex partner), who is earning a low income or who isn’t working. This may mean the spouse who is making the contribution is able to claim a tax offset.
To receive the maximum tax offset of $540, you need to contribute at least $3,000 and your spouse needs to earn $37,000 or less in annual income, which includes their total reportable fringe benefits amounts and reportable employer superannuation guarantee contributions. The tax offset will gradually reduce if they earn more than $37,000 a year. However, no tax offset is available if your spouse makes $40,000 or more in a year.
You can contribute over $3,000, but you won’t receive the tax offset for amounts exceeding $3,000.
Additionally to qualify for the tax offset:
- you can only contribute up to your spouse’s non-concessional contributions cap for the relevant financial year. Your partner’s total super balance must also be less than $1.7 million as at 30 June the previous financial year.
- your spouse must be under the age of 75. If they’re aged over 67, they must meet the work test exemption or the work test requirements before you make the after-tax contribution. To pass the work test, your spouse must be employed for at least 40 hours over a consecutive 30-day period during the financial year.
For more information about spouse contributions, visit the ATO website.
How can I make a spouse contribution?
Complete the Spouse Contributions form and post it to us with your cheque or money order.
How are spouse contributions different from contribution splitting?
Any advice contained on this webpage is of a general nature only, and does not take into account your personal objectives, financial situation or needs. Prior to acting on any information on this webpage, you need to take into account your own financial circumstances, consider the Product Disclosure Statement for any product you are considering, and seek independent financial advice if you are unsure of what action to take.