Spouse Super Contributions: Who Qualifies and What You Get
Learn how you can receive a tax offset by making superannuation contributions for a spouse with a low or no income.
This scheme allows you to receive a tax offset if you make superannuation contributions on behalf of your spouse to help boost their retirement savings.
Who it's for
This scheme is designed for individuals who want to support their partner's long-term financial security through superannuation. It is particularly relevant for freelancers or those working in the gig economy who manage their own taxes and retirement savings without an employer's help. To qualify, you must have a spouse who is earning a low income or no income at all.
What you get
If you meet the eligibility criteria, you can receive a tax offset of up to $540. This offset is intended to reward you for making contributions into your spouse's superannuation account, helping to build their balance for the future.
What it costs you
To receive this benefit, you must make the actual superannuation contributions into your spouse's account. The eligibility for the offset depends on your spouse's earnings; they must be earning a low income for you to access the benefit.
The catch to know
The most important thing to understand is that the tax offset is not a fixed amount for everyone. The benefit tapers off as your spouse's income increases. This means as your spouse earns more, the value of the offset you receive will decrease.
How to apply
- Confirm that your spouse's income meets the "low or no income" criteria.
- Make the necessary superannuation contributions into your spouse's account.
- Keep all relevant records of the contributions you have made.
- Claim the offset when you lodge your annual tax return.