Eligible spouse contributions
These are contributions paid by your spouse into your super account. Eligible spouse contributions are treated as after-tax or non-concessional contributions. This means that because they are made after income tax has already been taken out, there is no more tax to pay when the contribution is made. And like other investments in super, your investment earnings on these contributions are taxed at the concessional rate of up to 15% as opposed to marginal tax rates (up to 46.5% including Medicare levy).
Please note, limits apply to the amount of non-concessional contributions (eg eligible spouse and personal contributions) you can contribute into super. Non-concessional contributions in excess of the limit will be taxed at the highest marginal tax rate plus Medicare levy.
What are the tax benefits?
- Tax offset - the partner making the spouse contribution may be eligible to receive a tax offset of up to $540 in each financial year.
- Tax effective - you and your spouse will benefit from the concessional tax environment offered through super.
- Double the benefit - spouse contributions allow you to create two tax-free thresholds for superannuation purposes if you take your benefit prior to age 60.
Who should consider eligible spouse contributions?
Couples where one partner:
- has stopped work or has never worked and is under age 65
- is saving for retirement outside of super and wants to benefit from the concessional tax rate of up to 15% on investment returns
- is a high income earner.
Who can make eligible spouse contributions?
Anyone who meets the definition of a spouse can make eligible spouse contributions. There are no age or work restrictions in relation to the contributing spouse.
To make contributions into VicSuper Fund, the spouse making the contributions does not need to be a VicSuper Fund member.
Who can receive eligible spouse contributions?
To receive eligible spouse contributions into your account, you must be:
- under age 65, or
- between age 65 and 69 (inclusive) and gainfully employed for at least 40 hours in a period of not more than 30 consecutive days in the financial year in which the contributions are made.
Eligible spouse contributions cannot be accepted into your account after you (the member) turn age 70.
Is your spouse eligible for a tax offset?
If your spouse has made eligible spouse contributions into your VicSuper Fund account they may be eligible for a tax offset of up to $540 each financial year.
How to start
- You need to be a member of VicSuper Scheme or VicSuper Beneficiary Account. Your spouse does not need to be a member of VicSuper to make contributions on your behalf.
- You and your spouse then need to either:
- complete a Make an eligible spouse contribution form and return it with a cheque or money order to VicSuper, or
- complete a Eligible spouse contributions via direct debit form and forward it to VicSuper, to make regular monthly contributions via direct debit from your nominated bank account, or
- complete a Make an eligible spouse contribution form and return it to VicSuper. We will then send your spouse the biller code and reference number to use when making a contribution via BPAY® into your super account, using their financial institution's online or telephone banking services.
Provided your spouse makes the BPAY contribution before their financial institution's processing deadline, VicSuper will allocate the contribution to your account on the same business day. If they make the BPAY contribution after their financial institution's processing deadline, VicSuper will allocate the contribution to your account on the next business day. Your spouse should check the processing deadline time with their financial institution, as times may differ.
Please note, your spouse's financial institution may charge them to use BPAY.
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All forms listed on this page can be downloaded from our Forms page.