Superannuation contributions splitting is when a member splits his \ her concessional superannuation contributions with their spouse. This is typically done when your spouse’s account balance is lower than yours. To receive a payment split, your spouse must be:
More info for SMSF Contributions splitting can be downlaoded from the ATO website by clicking here.
Your members will give you an application in the approved form typically requesting a split of employer contributions made for them in the financial year prior to the year in which they submit their application. After checking the application’s validity, you can decide whether or not to allow them to split their contributions.
Trustees may wish to split contributions with a spouse for the following reasons:
Amounts contributed to superannuation that can generally not be split are:
An important step in the contribution splitting process is that the contribution must first be contributed to the Member’s account. The contribution cannot be directly paid to the spouse’s member account.
A split is generally done after the end of the financial year in which the contribution is made. A member request a contribution split with the form below: