Asset Super

Split contributions with your spouse

It's possible to arrange for super contributions that would otherwise go to your account to go to your spouse's account instead.

The possible advantages, include:

• access to 2 tax-free lump sum thresholds - meaning less tax to pay if you take the eventual benefits as 2 lump sums;
• access to 2 personal tax thresholds and pension rebates - meaning a higher after-tax income if you take the eventual benefits as personal pensions.

Contribution splitting is available for personal and employer contributions made after 1 January 2006, and the process involves making an application after the end of each financial year.

You can visit the Australian Tax Office for full details