Jun 24 2009

Superannuation Tips – Superannuation Spouse Contribution Tax Offset

Published by at 2:05 am under Tax Planning

A tax offset may apply if contributions are made on behalf of your spouse to a:
•    complying super fund, or
•    retirement savings account (RSA).
This tax offset applies to contributions made on behalf of non-working or low income-earning spouses, whether married or de facto.
You maybe able to claim an 18% tax offset on super contributions of up to $3,000 you make on behalf of your non-working or low income-earning spouse.
Eligibility
You may be entitled to a tax offset of up to $540 (maximum) each financial year if:
•    you did not claim a tax deduction for the contributions
•    both you and your spouse were Australian residents when the contributions were made
•    at the time of making the contributions you and your spouse were not living separately and apart on a permanent basis, and
•    the sum of your spouse’s assessable income and total reportable fringe benefits amounts for the financial year was less than $13,800, and
•    the contribution is made to a super fund, the fund must be a complying fund for the income year in which you make the contribution.
Note: A spouse includes a person who, although not legally married to you, lives with you on a genuine domestic basis as your husband or wife. It does not include a person to whom you are married but who lives separately and apart from you on a permanent basis.

We specialize in Superannuation advice.  If you require further information and assistance in setting up superannuation for your spouse, please contact us.

One response so far

One Response to “Superannuation Tips – Superannuation Spouse Contribution Tax Offset”

  1. smsf Taxationon 08 Jul 2013 at 10:58 am

    Your post gives very useful tips on maintaining taxation for superannuation. Thanks for sharing this useful tips.

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