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If you were under 67 years of age during the financial years 202021 and 202122, your fund could accept all types of contributions. The exception is downsizer contributions, which you could make if you were 65 years or older. Before 202021, the age limit for accepting all types of contributions was 65 years old.
The maximum amount that can be split into a partners super account (in the same fund, or a different fund) is the lesser of 85% of before-tax contributions and your concessional contribution cap following the end of the financial year in which the contributions were made.
If you have an accumulation account or youre a Defined Benefit Division (DBD) member with an accumulation component, youre able to split your concessional (before-tax) contributions with your spouse provided that your spouse is: under preservation age between preservation age and 65 years of age and has not
You can apply to split your contributions when youre any age, however, your spouse must be either: less than their preservation age; or. aged between their preservation age and 65 years, and not retired.
You can ask your super fund to transfer up to 85% of a financial years taxed splittable contributions to your spouse. These are generally: any contributions your employer made for you, including any salary sacrifice contributions.
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Usually, an individual must have earned income, but the spousal IRA is an exception, allowing a spouse with earned income to contribute on behalf of a spouse who doesnt work for pay. A working spouse can contribute to both IRAs, provided that they have enough earned income to cover both contributions.
MAXIMUM YOU CAN CONTRIBUTION SPLIT The maximum amount of concessional (before-tax) contributions you can split is the lesser of: 85% of concessional (before-tax) contributions for the financial year, and the concessional contribution cap for the financial year (currently $27,500).
That means if you both want to contribute the maximum to an IRA, and youre both under 50, your spouse will need to earn at least $13,000 (to cover the $6,500 annual maximum for each of you in 2023).
Contribution splitting is the process of splitting before-tax contributions (also called concessional contributions) from one super account to another. Before-tax contributions include employer contributions, salary sacrifice and personal contributions you have claimed a tax deduction on.
Spousal IRA Rules The account owner does not change, no matter who funds the account. Married couples must file a joint tax return to be eligible. There is no age limit on spousal IRA contributions. Total marital income is considered for Roth IRA contribution limits.

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