Taking time out of work – to have kids, look after loved ones, or just to have a break – is a pretty normal part of life. But while most of us consider the effect a break from work will have on our immediate income, a lot forget to factor in the long-term impact on super.
By using spouse contributions, you can top up your partner’s super account, and offset any time they’ve spent out of the workforce. In fact, as long as your partner is earning less than $13,800 a year, any contributions you make to their super can be tax-effective.
Opening up an account for your spouse is straightforward. They can share in the benefits of being with QSuper, even if they don’t work for the Queensland Government themselves.
You can also split your eligible contributions with your spouse, and contribute part or all of your contributions into their QSuper account from your Accumulation account.
Getting a tax concession for spouse contributions is a nice little bonus at the end of the financial year. If your partner earns less than $10,800 a year1, you’ll earn an 18% tax offset on the first $3000 you contribute, up to a maximum offset of $540 a year2.
If he or she earns more than $10,800, but less than $13,800, you may still get a partial tax offset. Here’s a case study that explains that very scenario.
Meet Steven and Amy. Steven’s 39, works for the Department of Education and earns $75,000 a year. Amy is 37, works 10 hours a week for Queensland Health and earns $12,500 a year.
Steven has decided to contribute $120 a fortnight to Amy’s super account ($3,120 a year). Remember, only the first $3,000 receives a tax offset, so here’s how Steven’s tax offset is calculated: $3,000 – ($12,500 - $10,800) x 18%(2). Which works out at $234.
What if my partner isn’t a QSuper member?
Not a problem, you can open an account for them. They can consolidate their super into their new Accumulation account and then arrange for their employer to make contributions to this account3. You can find out more about registering a non-Queensland Government employer with QSuper in our changing jobs section.
How do you define a ‘spouse’?
A spouse includes someone with whom you're in a registered relationship, or someone you’re living with on a genuine domestic basis (including same sex relationships).
What if my spouse works for me as an employee?
Spouse contributions don’t include contributions made to your spouse if they work for you as an employee. However, as a QSuper member you can open a QSuper account for them, and then pay their superannuation guarantee contributions to this account.
Make a spouse contribution now
Just complete the Spouse Deposit form.
Split your contributions with your spouse
Just complete the Split My Super Contributions With My Spouse form.
Opening a QSuper account for your spouse is easy
Have a read through the QSuper Product Disclosure Statement for Accumulation and Income Accounts, and fill in an Application to Open an Account for Your Spouse form. Send it to us with a cheque or money order for at least $10.
If it’s easier for you, you can visit a QSuper branch to make a deposit in cash (up to $1,000) or by EFTPOS. Please don’t send cash in the mail.
1. Income is defined as assessable income, plus any reportable fringe benefits.
2. The tax offset that can be claimed is the lesser of ($3000 - (spouse's financial year income - $10,800) x18%) or (total spouse contributions in the financial year x 18%).
3. In some circumstances, you may not be able to have your employer contribute with us. Please check with your employer.