You might want to contribute for your spouse to help ensure your spouse’s super savings don’t fall behind; for example, if your spouse is out of the workforce for a time. There’s a tax offset opportunity for employee members (see the ATO website), and there may be contribution splitting tax advantages for a couple as mentioned above.
Employee members can help their spouse members grow their super by making after-tax (non-concessional) contributions into their spouse’s APSS account. After-tax contributions cannot be split across two accounts, but before tax contributions can.
To contribute for your spouse, you first need to have opened an APSS Spouse Account for your spouse by completing the form in the relevant Product Disclosure Statement.
Once it’s set up, it’s easy to make after-tax contributions to it:
If your spouse is 65 to 69 years of age, you can only make spouse contributions if your spouse is currently employed in the paid workforce on at least a part-time basis (i.e. at least 40 hours in a period of 30 consecutive days during the most recent financial year). We can’t accept spouse contributions if your spouse is age 70 or older.
In some cases, up to 85% of before-tax (concessional) contributions for a financial year can also be ‘split’ across the accounts of both the employee and the spouse member. There may be tax advantages for a couple who income splits, but it’s a complex area that really requires at least some professional financial advice.
Learn more about ‘contribution splitting’ here.