Other Contribution Types

Spouse

If you are an Australian resident you may be eligible to contribute to a complying superannuation fund such as MAP Superannuation on behalf of your spouse (married or de facto). 

MAP Superannuation can open an account for this purpose. Your spouse does not need to be working if they are aged less than 65. If they are between age 65 and 74 69 they must have been gainfully employed for at least 40 hours in a period of not more than 30 consecutive days in the financial year in which the contribution is made. The level of income earned by your spouse does not limit what you can contribute, however spouse contributions do count toward the Non-concessional Contribution Cap).

There is no limit on the number of Spouse Contributions you can make, and the level of income earned by your spouse does not limit what you can contribute. You may also be entitled to a tax offset of up to $540. If you are your spouse’s employer, you cannot make a spouse contribution.

Contribution Splitting

Contribution splitting allows the splitting of some forms of contributions, including employer and Salary Sacrifice contributions, to a superannuation account of your spouse. This may be an effective way to top up your spouse’s superannuation balance.

The maximum amount of Concessional Contributions that may be split will be the lesser of 85% of the total Concessional Contributions or the Concessional Contribution Cap for the financial year. Non concessional (or personal after tax) contributions made after 5 April 2007 cannot be split.

Sale of a Business and Personal Injury Payments

You may also be able to contribute the proceeds from the sale of a small business and personal injury payments to your super. There are additional eligibility criteria and taxation consequences for these types of contributions.

Employment Termination Payments

On 1 July 2007, the tax treatment of certain payments made in consequence of the termination of employment changed. As a result, employment termination payments (previously known as eligible termination payments) cannot be rolled over into super except under transitional arrangements.

Transitional arrangements apply to employment termination payments made between 1 July 2007 and 30 June 2012 if you were entitled, as at 9 May 2006, to such a payment specified under a written contract, an Australian or foreign law or a workplace agreement under the Workplace Relations Act 1996.