Super splitting – what you need to know

SMSF technical expert and columnist for The Australian newspaper
Print This Post A A A

Can you transfer your super money to your spouse without doing the “withdraw and re-contribution” strategy?

The withdraw and re-contribution strategy basically means this – you take a lump sum out of super and your spouse contributes it to their super account. Issues to consider and check-off for this strategy include your ability to withdraw money from super, tax, transaction costs, the ability of your spouse to make a super contribution and contribution caps. With this strategy it’s common for it to be done with several hundreds of thousands of dollars in a single transaction.

The Government’s super changes from the budget reduce your ability to do this strategy because of the $500,000 non-concessional contribution limitation.

Also from this edition