Question

Hi, In the Australian Taxation system while calculating taxable income and tax payable, How do i need to treat the following:

Superannation Contibution of $3000 by the taxpayer (employee) to his super fund?

Non-concessional Superannuation contribution of $4000 to his low income earner Spouse?

If he will get the tax offset for contributing to his low income earner Spouse, they have two small kids?

If we need to combine his Spouse income to his income?

Answer 1

The super contributions you make before tax are taxed at 15%.

Types of before-tax contributions are:

1. Employee contributions (compulsory contributions or salary sacrifice payments made to super fund)
2. Contributions that are allowed as income tax deduction
3. Unfunded defined benefit contributions

Under the 2018/2019 tax rules, 18% tax offset claim is available on super contributions up to $3000 that you make on behalf of your low income earning partner(i.e. $37000 or less). However, You wont receive the tax offset on anything above $3000

No, He does not need to combine his spouse income