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.
Your spouse earns1 less than $40,000 p.a.
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 2019/20 tax return.
1. Includes assessable income, reportable fringe benefits and reportable employer super contributions.
Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.
Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.
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