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.