Splitting of contributions
You may be eligible to split your benefits into a superannuation account for your spouse (legal or de facto spouse). The amount of benefits you are able to split is generally limited by reference to the amount of concessional contributions made to your superannuation account during the previous income year.
The maximum amount that can be split is broadly:
- 85 per cent of any concessional contributions for the previous income year, or
- the concessional contribution cap for that income year if this is a lesser amount.
This means that concessional contributions you make in the prior income year can generally not be split until the current income year. An exception to this rule is if you are closing your account, in which case you may apply to split contributions in the same income year in which they are made.
Split contributions form part of the taxable component in your spouse's superannuation account.
You are able to split contributions a maximum of once per income year and we are unable to accept or amend a deduction notice for personal deductible contributions after they have been split.
You should discuss the appropriateness of splitting your contributions with your adviser.
Splitting contributions is subject to terms and conditions. Further information is available from your adviser.
Part A of the Avenue Retirement Service PDS