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You may be able to claim a tax offset up to $540 when you add money to your spouse’s super.
If your spouse earns a low income or is taking time away from work, you may be able to tax-effectively boost their super.
Contributing to your spouse’s financial future – with a bit of help from the Government – may be one way to reduce the impact on their retirement savings if they take time out of the workforce to have children, look after loved ones or study.
If your spouse earns less than $40,000 a year, you may be eligible for as much as a $540 tax offset – and there’s still time to give their balance a boost before the end of the financial year.
Under the 2018-2019 tax rules, you may be able to claim a tax offset of up to 18% on super contributions up to $3,000 that you make on behalf of your spouse who may be earning a low income or not working.
You can contribute more than $3,000 into your spouse’s super account, but you don't receive the spouse contribution tax offset for payments above the first $3,000.
The amount you may be able to claim as a tax offset depends on how much your spouse earns1 up to a maximum of $40,000.
For example, if your spouse earns $37,000 or less, you may receive a tax offset of $540 when you contribute $3000 in after-tax dollars to their super fund.
This amount changes according to the amount your spouse earns, cutting out when they earn $40,000.
Tax offset on $3,000 contribution
(Source: Based on taxation rules for 2019/20 financial year.)
A spouse includes someone with whom you are in a registered relationship, or someone you are living with permanently on a genuine domestic basis such as a defacto.
This includes same sex relationships.
One other requirement is that both you and your spouse must be Australian residents.
Boosting your spouse’s super tax-effectively may be simple, but there are a few requirements to meet before you may make contributions to your spouse or qualify for the tax offset. These include:
You can’t claim this tax offset if:
Find out more about Spouse Contributions.
Another great way to help your partner boost their super may be choosing to have some of your own super contributions put into their super account.
This is called Splitting Super Contributions.
As a QSuper member, you have access to personal financial advice.2
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1. Earnings are defined as the sum of your spouse's assessable income, total reportable fringe benefits and reportable employer super contributions.
2. QInvest Limited (ABN 35 063 511 580, AFSL 238274) is a separate legal entity responsible for the financial services it provides. When you receive personal advice from QInvest, the QSuper Board may pay for some or all the advice fee for advice related to your QSuper benefit. Eligibility conditions and advice fees may apply. Refer to the Financial Services Guide for more information.
Claiming a tax deduction for your personal super contributions may help you reduce your tax.
Boost your spouse’s super with some help from the tax office.
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