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Rules for Spouse Super Contribution

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

  1. Tim77

    Tim77 Member

    Joined:
    12th Mar, 2007
    Posts:
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    Location:
    Melbourne
    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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    Location:
    Melbourne, VIC
    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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    12th Mar, 2007
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    Location:
    Melbourne
    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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    12th Mar, 2007
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    Melbourne
    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

    Joined:
    12th Mar, 2007
    Posts:
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    Location:
    Melbourne
    Asx Broker, i re read your post and I think you've answered that question about lump sums. Thanks.