I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Spousal Contributions to Super

If your spouse is working part time or taking the time off work so as to raise kids, why not increase their super at this time? They cannot only take advantage from the super contribution, but from the extra income from interest thatís earned over time.

If your spouse earns low income or isnít currently working, you may want to give their super account an increase via spousal superannuation contributions.

If overall tax-assessable income of your spouse is $13,800 below, you can pay a spousal super contributions of up to $3,000 and get an 18% tax rebate up to $540.

Are you qualified?

The Australian Taxation Office has prepared the following conditions that should be met for you to be qualified to make such contributions and get the tax offset.
• You didnít get a tax deduction intended for the super contributions.
• Both you as well as your spouse were residents of Australia when the super contributions were made.
• During the time of contributions making, both you as well as your spouse werenít living separately on a long-term basis.
• The sum of the assessable income of your spouse, counting total reportable fringe benefits amounts as well as reportable employer super contributions for the budget year, was below $13,800.
• The contribution was made to a complying super fund or a retirement savings account (RSA).

What is a spouse?

The Australian Taxation Office defines a spouse as an individual whoís married to you. Moreover, their definition includes somebody who resides with you genuinely and domestically as your wife or husband, although they arenít legally wedded to you. It doesnít include individual you are married to, however who separately resides from you or away from you permanently.

Contribution splitting

You can perhaps split your spousal superannuation contributions via contribution splitting. You will have to fix a special preparation with your super fund and the ATO, and itís just applicable to particular kinds of contributions.

Visit our website for further info or contact your super fund - www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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