Small Business Glossary

Spouse Super Contributions

‍Spouse Super contributions refer to voluntary contributions made by a small business owner (or someone self-employed) to their spouse's superannuation fund. These contributions are made using after-tax dollars, with the potential benefit of a tax offset for the contributing spouse.

Key Points

  • Tax Offset: You may be eligible to claim a tax offset of up to $540 per year if your spouse's income is below $40,000 (as per ATO website on 14 May 2024).
  • Contribution Type: Spouse contributions are considered non-concessional contributions for your spouse.
  • Eligibility:
    • You and your spouse must be Australian residents.
    • The contribution must be made to a complying super fund or an approved retirement savings account (RSA).
    • You cannot claim a tax deduction for the contribution.
    • You and your spouse cannot be separated permanently.
  • Benefits:
    • Boosts your spouse's retirement savings, especially if they have a low income or are not working.
    • Provides a potential tax offset for you.

Claiming the Offset

Include the offset in your tax return.

Things to Consider

  • There is a cap on non-concessional contributions ($110,000 per year for everyone).
  • Speak with a registered tax agent or financial advisor to ensure you meet eligibility requirements and understand the tax implications.

Relevance to Small Business

Spouse contributions can be a tax-effective strategy for small business owners to help their spouse build their superannuation while potentially benefiting from a tax offset. However, it's important to ensure it aligns with your overall financial goals and tax situation.



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