Share the wealth by contributing to your spouse’s superannuation. As long as you both meet the eligibility criteria, you can grow both your super accounts and reduce your tax bill in one simple process.
You’ve planned out your life in your head. You’ve both got individual goals. And you’ve got things you’d like to do as a couple. One of those is to build a secure financial future together. Super is a big part of that plan, which is why if your partner is a low-income earner, you can help build their super.
Want to know more about pensions and how to enjoy a robust retirement income?
If you or your partner is a low-income earner or taking a break from work, the higher-wage earner may be eligible to make contributions to build their spouse’s super savings.
Other benefits include:
Contribution Caps apply. For more information refer to our Member Guide.
1. Including assessable income, total reportable fringe benefits amounts and reportable employer super contributions.
Contribution Splitting may allow you to split up to 85% of your concessional contributions with your spouse at the end of a financial year.2 Contribution Caps apply.
For more information refer to our Member Guide.
2. Please note, minimum requirements, fees and charges apply. Please refer to the Product Disclosure Statement.
If you make a contribution into your spouse’s super account you might be eligible for a tax benefit.
The maximum tax rebate is 18% of a $3,000 spouse contribution. That means you may be $540 better off.
The full tax rebate is available if your spouse’s income (including assessable income, total reportable fringe benefits amounts and reportable employer superannuation contributions) is less than $37,000 per year.
Tax offsets will not be available if the receiving spouse has exceeded their non-concessional contributions cap in the relevant financial year or they have a Total Super Balance* equal to or exceeding the transfer balance cap as at 30 June before the start of the financial year in which the contribution was made.
*Your total superannuation balance is the total value of your accumulation and retirement phase interests (including rollover amounts not yet included in those interests) across all of your superannuation accounts, reduced by the sum of any structured settlement contributions.
The tax rebate offered to you if you contribute to your spouse’s super reduces by $1 for every dollar over $37,000 of your spouse’s income.3
The rebate reduces to zero when your spouse’s income reaches $40,000 (or over).
3. Including assessable income, total reportable fringe benefits amounts and reportable employer super contributions.
At Hostplus we believe in supporting our members in every way we can. That’s why we offer contribution splitting.
Contribution splitting can help you secure the financial future of your spouse. You can split up to 85% of your concessional contributions (employer SG contributions, salary sacrifice and deductible contributions made by the self-employed) with your spouse at the end of a financial year.4
4. Please note, minimum requirements, fees and charges apply. Please refer to the Product Disclosure Statement.