Published on 05 May 06
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Since 1 January 2006, spouses have been able to split superannuation contributions. The new measures are intended to assist families to maximise the benefits of superannuation, especially where there is a non-working, or low income spouse. This paper focusses on:
- how, when, and with whom, can contributions be split?
- the taxation consequences for the 'splitting spouse', the 'receiving spouse' and the fund
- trust deed amendments and other documentary requirements
- planning opportunities
- tricks and traps.
Steven is a Partner at Edwards Marshall and a Director of Edwards Marshall Financial Solutions Pty Ltd. Steven is an Authorised Representative of Lonsdale Financial Group Ltd. Steven s principal areas of practice include superannuation, retirement planning, taxation, succession planning and SME management. He divides his time between servicing a range of SME accounting clients and advising a growing portfolio of financial planning clients.
- Current at
23 February 2006