If you make an after-tax super contribution into your spouse’s super, you may be eligible for a tax offset of up to $540.
Phil and Karen are married and have two young children. Phil works full-time and earns $100,000 p.a. Karen has cut back to working two days a week and earns $32,000 p.a.
They want to make sure Karen keeps building her super while she is working part-time. Phil contributes $3,000 into Karen’s super account. This entitles him to a tax offset of $540, which will reduce his income tax when he completes his 2020/21 tax return.
1. Includes assessable income, reportable fringe benefits and reportable employer super contributions.
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