David Douglas

SUPERANNUATION SPOUSE CONTRIBUTION TAX OFFSET

30 June 2024

Maximum $540

A tax offset may apply if contributions are made on behalf of your spouse to a:

Complying super fund

Retirement savings account

You may be able to claim a 18% tax offset on super contributions of up to $3,000 you make on behalf of your non-working spouse or low-income-earning spouse.

ELIGIBILITY

You may be entitled to a maximum tax offset of up to $540 each year if:

You did not claim a tax deduction for the contributions.

Both of you were Australian residents when the contributions were made.

The contributions were made to a complying superannuation fund.

Spouse's Assessable Income is the sum of the following amounts:
Taxable income
Adjusted fringe benefits
Net investment losses
Reportable super contributions

Must be < $13,800 this will increase to $40,000 for 30 June 2024.

Maximum rebate is the lesser of:

0 to $10,800 x 18%

$10,801 to $13,799 = ($3,000 - (Spouse's Income - $10,800)) x 18%

Disclaimer
The information provided in the above documents is not intended to be, nor should it be construed as tax advice. Any specific recommendation for a client can only be done after their individual circumstances have been determined by David Douglas Accountants.

We have clients from the following locations:

Brisbane, Albion, New Farm, Teneriffe, Newstead, Windsor, Wilston, Bowen Hills, Wooloowin, Herston, Lutwyche, Hamilton, Eagle Farm, Gordon Park, Fortitude Valley, Clayfield, Ascot, Hendra.

Morayfield, Burpengary, Caboolture, Bellmere, Wamuran, Narangba, North Lakes, Mango Hill, Kallangur, Dakabin, Deception Bay, Bribie Island, Elimbah, Kippa-Ring.

We do tax returns for individuals, trusts, companies, partnerships, contractors, ABNs and sole traders.

Liability limited by a scheme approved under Professional Standards legislation