The Spouse Super Contribution tax offset applies to non-concessional contributions made by a taxpayer to a Complying Superannuation Fund or Retirement Savings Account in respect of their low-income earning or non-working spouse (married or de facto).
How much is the Spouse Super Contribution Tax Offset?
For the 2015-16 year, the amount of the spouse super contribution tax offset is calculated as follows:
|0 - 10,800||$3,000||$540|
|10,801 - 13,799||$3,000 - (SAI - $10,800)||MRC x 18%|
|13,800 and more||Nil||Nil|
The offset is calculated as 18% of the actual contributions if this results in a lower amount.
How much can I contribute to my Spouse’s super?
There is no limit on the amount of money that you can invest in your spouse’s super account. Although the spouse super contribution tax offset is calculated on amounts of $3,000 or less, you may contribute more than this if you wish.
Keep in mind, however, that spouse contributions are non-concessional contributions and as such are subject to the non-concessional contributions cap.
Eligibility for the tax offset
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, total reportable fringe benefits and reportable employer super contributions 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.