Rules for Spouse Super Contribution

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Tim77, 14th May, 2009.

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  1. Tim77

    Tim77 Member

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    Hi,

    Is this possible:

    Scenario: Husband A is 65 (about to turn 66 and retire) has $100,000 super balance. Wife B is 62 (still working until 65) and also has balance of $100,000 super.

    Could Husband A, either before or after retirement make a non-concessional super contribution to his spouse for the full amount of his super i.e. $100,000?

    Non-concessional cap is $150,000 pa or $450,000 over three years under the 'bring forward' rule so this ain't a problem.

    Reason: Husband A's superannuation will count as asset under assets Test.

    Is there any limitation on the spousal contribution being from existing superannuation funds?

    cheers

    Tim
     
  2. Rob G

    Rob G Well-Known Member

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    You cannot usually transfer a super balance inter vivos to another except under a court order.

    Is that what you were asking ?

    Cheers,

    Rob
     
  3. AsxBroker

    AsxBroker Well-Known Member

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    Your welcome, I hope I pass :)
     
  4. Tim77

    Tim77 Member

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    do you pass, well. I since read that rolling your super over into your spouses is not possible. If he has already retired would this not be considered a roll over?
     
  5. AsxBroker

    AsxBroker Well-Known Member

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    Hi Tim,

    As Rob said, you can't rollover to different members accounts.
    Withdraw to a bank account then contribute from the bank account.

    Cheers,

    Dan
     
  6. Tim77

    Tim77 Member

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    Rob no, that's not what I was asking.

    So I guess he could take the money as a lump sum right and then immediately make the contribution to his wife?
     
  7. Tim77

    Tim77 Member

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    Asx Broker, i re read your post and I think you've answered that question about lump sums. Thanks.
     

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