I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

The Advantages of Having Your Partner or Others Contribute to Your Account through Contributions

It would be your partner, spouse or others.

If you have a reduced income, then maybe you can scale back to the working hours youíve made to part-time status. You could find that you qualify for either a spouse rebate, if you spouse puts money into a fund which she then qualifies a tax rebate for a tax. But if youíre also putting some money into yourself with your own after-tax salary, there could be an extra government tax-free benefit paid by the government into your fund.

It works best if your spouse is not employed, taking a break from work, or earns less than $13,000 in the financial year. If your spouse earns more, you can still contribute, but you wonít get the tax offset.

Hereís how spouse contributions work. To qualify as a spouse, you and your partner must be:

• Married and living together or in a relationship. Same sex relationships qualify.
• You must be both Australian residents.

Letís do the sums and take a look at these examples:

It assumes you contributed $1,500 to your spouseís account. Your spouse is under 65 and earned less than the $13,800. The maximum tax offset available on your income tax return for that year would be $270. The maximum rebate available is 3,000 times 18%, or $540.

There is another way to boost your spouseís super using pretext or concessional contributions. Itís called contribution splitting. Essentially, it allows you to split with your spouse up to 85% of your concessional contributions made during the previous financial year.

Contribution splitting might be a useful strategy to receive benefits tax-effectively as a couple depending your personal situation. For a contribution splitting strategy thatís right for you, talk to financial adviser. You can find out more information about spouse contributions for superannuation at www.australiansuperfinder.com.au or by calling our help line at 1300 252 167

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