Clients who have a spouse with assessable income, reportable fringe benefits and reportable employer contributions of less than $40,000 could consider making a non-concessional contribution to their spouse’s super fund.

The offset is calculated as 18 per cent of the contribution, up to a maximum of $540 where the spouse's income is below $37,000. A reduced offset may apply where the spouse’s income is between $37,000 and $40,000.

Tip…

• No offset is available where:

  • the spouse’s income is above the $40,000 threshold

  • the spouse has excess non-concessional contributions

  • the spouse’s Total Superannuation Balance exceeds $1.9 million as at 30 June 2023.

Disclaimer: Please note that the above should not be construed as personal investment advice. Please consult with your financial advisor or accountant before taking any action.

Rick Maggi