SMSF STRATEGY GUIDE
ELIGIBLE SPOUSE CONTRIBUTIONS
An Eligible Spouse Contribution is where a contribution is made into a SMSF member account by the spouse of that member.
TAX OFFSET OF UP TO $540
If one member of a couple has adjusted taxable income less than $40,000,
the other spouse may be eligible to contribute up to $3,000 into that
spouse's account and receive a tax offset up to $540.
The offset gradually reduces for income above the $37,000 limit and phases out at an income of $40,000.
For a contribution to be an “eligible spouse contribution”, the
following conditions must be met:
- Can be any age
- Must derive their income, profits or capital gains in Australia
- Does not claim a tax deduction for the contribution
The receiving spouse:
- Must be the spouse of the contributor at the time of the contribution
- Must satisfy the work test if aged between 65 & 69.
- Must not be aged 70 or over.
- must not have exceeded their NCC caps, and
- must not have a super balance of $1.6m or >.