Save for retirement together
You may be able to help keep your partner’s super balance looking healthy. There could be benefits for you both now and in the future.
There are 2 ways to do this:
- Make an after-tax contribution into their super.
- Split your super contributions.
After-tax spouse contributions
Make an after-tax contribution into your partner’s super account, or vice versa.
You’ll need your partner’s account details to pay into their super. If they’re with UniSuper, you can pay with BPAY® or by cheque.
The usual rules for after-tax contributions apply.
Tax offset for spouse contributions
A tax offset of up to $540 each financial year is available on eligible spouse contributions. You can claim this offset when you do your tax return.
Generally, to be eligible for the tax offset:
- your partner must earn less than $40,000
- you must live together in Australia.
Other eligibility requirements may apply. For more information, visit the ATO website.
You may be eligible to pay up to 85% of your before-tax contributions into your partner’s super instead of yours.
To do this, your partner must be aged under 65 or under their preservation age. If they’re over their preservation age but under age 65 they must not be permanently retired.
Eligible before-tax contributions include:
- employer contributions
- salary sacrifice contributions
- contributions for which you’ve claimed a tax deduction.
Why share super with your partner?
They could be able to access their super earlier
They could qualify for a higher government age pension
It could maximise the amount of super you both transfer into retirement
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