Adding a little extra to your super today could make a big difference to your final balance and income when you retire.
There’s plenty of ways to help grow your super:
|Income*||Tax rate on before-tax contributions|
|$250,000 and more||30%|
Sharing is caring, especially when you share your super with your spouse.
If your spouse is on a lower income, or not in paid work for a while (such as taking time off to raise a family), this could mean their super isn’t growing quickly. Show you care by helping boost your spouse’s super.
After-tax spouse contributions
Adding to your spouse’s super can help them while also helping you save on tax. If their income is less than $37,000*, and you make an after-tax contribution of $3,000, you could get a $540 tax offset.
|Spouse income*||Tax offset on $3,000 spouse contribution|
|$0 to $37,000||Full tax offset – $540|
|$37,001 to $40,000||Partial tax offset – less than $540 on sliding scale|
|Over $40,000||No tax offset – $0|
You won’t receive any tax offset if your spouse has an income of over $40,000* or for contributions greater than $3,000.
Find out more by reading our Contributions fact sheet.
Pre-tax contribution splitting
You can transfer up to 85% of your before-tax contributions to your spouse. Your spouse just needs to be under 64 and not permanently retired, unless they meet the work test requirement.
*Income is the sum of your annual taxable income, reportable fringe benefits, total net investment loss and any before tax (concessional) contributions you’ve made to your super.