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He is married to Angela, also 35 years of age, a stay at home mum who does not earn any income. A spouse contribution is an after-tax payment made by one spouse into the superannuation account of the other spouse. If your spouse has an account with Club Plus Super, simply download a Member Voluntary Contribution Form and complete the 'Spouse Contribution' section and follow the steps provided to make a payment. The contribution was made to a complying super fund or a retirement savings account (RSA). However, It does not apply to a person who is legally married to you but lives separately and apart from you on a permanent basis. Government legislation allows your spouse to make spouse superannuation contributions for you if you earn up to $40,000, and claim a tax offset. Who is eligible? A spouse includes a person who lives with you on a genuine domestic basis as your husband or wife (does not need to marry to you legally). Making a contribution to their super can be an effective way to grow their retirement savings, while reducing your tax. In return, the Tax Office provides an incentive as a tax offset against contribution maker’s personal tax return in the same financial year that the contributions are made. In order to receive the highest amount of tax offset, you’ll need to contribute at least $3,000 and your partner’s income must be less than $37,000 per year. To be entitled to this tax offset, eligibility rules apply, and the receiving spouse must be under the age of 67, or if they’re aged 67 to 74, they must meet the work test or work test exemption requirements. The good news? Spouse Super Contribution. Spouse super contributions – when adding to your partner’s super pays. Concessional contributions include employer and salary sacrifice contributions. Eligibility. If your spouse has super with another provider, contact that fund for spouse contributions payment instructions. But you can help via making a spouse contribution to their super account. What is a spouse super contribution . Contributing to your spouse's super may earn you a tax rebate. Add to your super; Spouse contributions If your partner has taken time off, whether it’s to raise children, study or for any other reason, their super could be falling behind. They must also be eligible to receive spouse contributions. Split your super contributions. To be eligible for the maximum tax offset, which works out to be $540, you need to contribute a minimum of $3,000 and your partner’s annual income needs to be $37,000 or less. What are the benefits? If you make a contribution into your spouse’s super account you can get a tax benefit. If your spouse (husband, wife, or de facto) is a low-to-middle-income earner or not working, you might be eligible for a tax offset if you make after-tax contributions into their super. The measures also intend to increase the age at which spouse contributions can be made from age 69 to age 74. Taxpayer makes super contribution for spouse. This is up to the maximum offset of $540 per year. 3. Splitting your super contributions with your spouse may help you both achieve financial security in retirement. The tax offset is 18% of the contributions, and it can be up to $540. Make an after-tax contribution into your partner’s super account, or vice versa. To receive a spouse contribution in 2020/21, your spouse’s total super balance must have been under $1.6 million on 30 June 2020. Share the benefits through spouse contributions. He has contributed super in his pre-tax income (paid by his employer), and made personal contributions too. From taxfp.com.au: The contributing spouse: > must be an Australian resident > can be any age and need not be working > must not be the receiving spouse’s employer . If their super is held with another fund, please contact that fund to find out how they accept contributions. Making contributions into your spouse’s super could help you both enjoy a more rewarding retirement. More about spouse contributions and contribution splitting How do spouse contributions work? If you contribute more than $3,000, you’ll still receive the maximum tax offset of $540. Craig is 35 years of age and currently earns $95,000 p.a. The maximum tax rebate is 18% of a $3,000 spouse contribution. A spouse super contribution is a type of contribution that is made on behalf of your spouse to a complying SMSF. Re with UniSuper, you can get a tax offset of $ (... Need help with making a spouse contribution to their super can be an effective way to their! Member Care Team are happy to help can make personal contributions Scheme their... 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