A strategy for couples
If your partner is a low-income earner, a stay at home parent, or unemployed, they’re probably not receiving super contributions.
This means their super can fall behind, and they may be reliant on the Government age pension in later years. Spouse contributions are one of the ways couples can boost their super, and be better prepared for retirement.
What is a spouse contribution?
A spouse contribution is an after-tax payment made by one spouse into the superannuation account of the other spouse.
What are the benefits?
Building separate retirement savings for both you and your spouse offers increased flexibility when it comes to your retirement income strategy.
- It allows you to offset annual super contribution caps
- You can claim an 18% tax offset on contributions up to $3,000
Who can qualify?
To receive spouse contributions, you and your spouse must satisfy the following criteria:
- You and your partner must be married and living together, or living in a de facto relationship (includes same-sex couples)
- You and your partner must not be living separately or apart on a permanent basis
- You and your partner are both Australian residents
- The contributions must not be made to satisfy a Family Law split order
- The contribution must not be deductible to you.
Making a contribution
If your spouse is an Equip member making a contribution is as simple as submitting the spouse contribution form. If they are with another fund please contact that fund for information.