A spouse contribution is essentially a voluntary (or after-tax) contribution made to a fund held in your spouse’s name.
Who qualifies as a spouse?
Someone with whom you are living together on a permanent bona fide domestic basis and to whom you are legally married; or with whom you are in a de facto relationship.
Spouse contributions are a great a way to boost your spouse’s superannuation account.
You may be able to claim an 18% tax offset on super contributions made on behalf of your spouse (up to $3,000). You can claim the tax offset through your tax return.
Spouse Contribution tax offset rules
You may be entitled to a maximum tax offset of up to $540 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
- the sum of your spouse’s assessable income, including total reportable fringe benefits amounts and reportable employer super contributions (RESC) for the financial year, was less than $40,000
- the contribution was made to a complying super fund in the income year, in which you made the contribution.
For more information on the Spouse Contribution tax offset, please visit the Australian Taxation Office website.