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You may be able to increase your household’s wealth by as much as $540 by contributing to your spouse’s super.
One of the many superannuation legislation changes that were effective 1 July 2017 is the change to the Spouse Contribution Tax Offset.
For 2017-18 financial year, if your spouse's assessable income, total reportable fringe benefits amounts and reportable employer super contributions is less than $40,000, you may be able to claim a tax offset of up to $540 for spouse contributions up to $3,000.
The intention of the offset is to assist couples to support each other in saving for retirement.
Your spouse includes another person (of any gender) who:
Specifically, the allowable offset is 18% of contributions up to $3,000, with a maximum of $540 a year. The $3000 maximum is reduced by the value of income earned between $37,001 and $40,000. You can claim it if you meet these conditions:
The tax offset for eligible spouse contributions can't be claimed for super contributions that you made to your own fund, then split to your spouse. For this type of transaction, see Splitting Super Contributions.
To claim your Spouse Contribution Tax Offset, simply make sure QSuper has your tax file number (TFN) and lodge your tax return as you would normally. Be sure to complete the ‘superannuation contributions on behalf of your spouse’ question in the supplementary section of your tax return. You also need to complete Spouse details – married or de facto in your tax return.
You can check whether we have your TFN and view your contributions in Member Online –register or log-in using your client number.
As a QSuper member you have access to personal financial advice:^
Use our Online Advice tool for super contributions, via Member Online, anytime, anywhere.
To discuss topics related to your QSuper account, book a phone appointment.
You can also choose to receive personalised financial advice to help you make the most of your money.
Find out more
1 Advice fees apply. Refer to the Financial Services Guide for more information.
The Commonwealth Government has made some changes to superannuation legislation, most of which took effect on 1 July 2017.
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