I am 66, retired and drawing a pension from my SMSF. My wife turned 60 in March and retired in June. She also draws a pension from the Super Fund, as well she has some income from a rental property. Can we still make Super Co Contributions and or Spouse Contributions to my wife”s Super Account ?
A: Yes, provided your spouse meets the following rules:
- She is eligible to make a super contribution. This means in broad terms that she is under 65, or if aged between 65 and 70, meets the work test;
- Her total super balance must be under $1.6m;
- For the super co-contribution, her assessable income must be under the cap and importantly, at least 10% must come from an employment source (ie wages or salary).
I have attached a link to an article on Switzer Daily that explores this in more detail. See http://www.switzer.com.au/the-experts/paul-rickard/5-even-sexier-ways-to-boost-super/
