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Share the benefits of splitting your super with your spouse
There are ways you can add to your spouse's super to make sure you are both getting the most out of your retirement as a couple. Making contributions to your spouse's account is a great way to help if they have a low superannuation balance – either due to time out of the workforce or earning a low income.
In addition to making after-tax spouse contributions as regular or one-off payments, you may be able to transfer some of your superannuation contributions to your spouse's account. This is called superannuation or contribution splitting.
When you split super contributions, you apply to your super fund to transfer to your spouse a portion of the before-tax (concessional) contributions made to your accumulation account during the financial year.
The Australian Government has some rules in place about super splitting, including what can and can't be split.
A spouse is someone you are legally married to or in a de facto relationship with (including same sex partners). You can apply to split your contributions with your spouse at any age, but to receive the split your spouse must be:
Only before-tax contributions (also known as concessional contributions) made to an Accumulation account can be split. These include:
You can transfer up to the lesser of:
Ken has a superannuation balance of $400,000. Last financial year his employer made $15,000 in Superannuation Guarantee (SG) contributions to his QSuper account. After speaking to a financial adviser, Ken decides to apply to QSuper to split the maximum amount of his before-tax contributions to his wife Barbara, who has taken time off work to care for their three children.
Ken is able to split 85% of his contributions, adding $12,750 to Barbara's retirement savings.
If you want to split your super contributions with your spouse, they will still be counted towards your before-tax (concessional) contribution cap.
In most cases, you can only split contributions made in the previous financial year (unless you are leaving your fund in the current financial year) and you can only split contributions once every financial year.
Not all superannuation funds allow super splitting. At QSuper, we want to support our members to live their best life in retirement in every way we can. That’s why we offer super splitting at no additional cost.
To split your super contributions with your spouse, they must have a QSuper Accumulation account. To apply to split super contributions, download and submit the Contribution Splitting form (pdf). If your partner does not have an Accumulation account, they can easily join online.
For more information about super contribution splitting, read our factsheet (pdf) or download our Personal Contributions Guide (pdf).
Get personal financial advice over the phone about splitting your super, to help you decide what's best for your situation.Not a QSuper member? Join today.