Spouse contributions - build your future together - BUSSQ

Spouse contributions - build your future together

Make a contribution to your spouse's super account to assist them build their retirement savings and work towards your retirement nest egg together as a couple. As an added benefit, you have the chance to receive a tax offset for contributions made on behalf of a low income earning or non-working spouse.

Superannuation Contributions from a spouse

Another feature of being a member of BUSSQ is that your spouse can make superannuation contributions for you. A spouse - for the purpose of making spouse contributions to your super fund is your husband, wife or de-facto partner (including same sex partner) who lives permanently with you at the time the superannuation contributions are made. Both you and your spouse must be Australian residents at the time the spouse contribution is made.

You can also make super fund contributions on behalf of your spouse to an account in their name. Spouse contributions made on behalf of a spouse that is not working, has a low income, or is only working part time may qualify for a tax offset. The maximum offset for a year of income and reportable fringe benefits is $37,000 p.a. and reduces to zero when the spouse's assessable income and reportable fringe benefits reach $40,000 p.a. (for the 2017-18 financial year). For previous financial years the maximum offset was only applicable if your spouse earned less than $10,800 p.a. with a partial offset applicable if they earned up to $13,800 p.a.

Eligibility for Spouse Contributions to your Superannuation Fund

Spouse contributions can only be accepted into your BUSSQ super account if, at the time the contributions are made:

  • You are under the age of 65, or
  • You are aged between 65 and 69 and you have worked at least 40 hours in a period of not more than 30 consecutive days in the current financial year.

Call BUSSQ on 1800 MY BUSSQ (1800 69 2877) and talk to one of our friendly staff about contributions to your BUSSQ super fund account.