Super related tax offsets 2017 & 2018
Low Income Superannuation Tax Offset
If you earn less than the $37,000 you are entitled to a refund of contributions tax paid on concessional contributions, up to a limit of $500.[1]
|
Adjusted Taxable Income |
Maximum Offset |
Tax Refund on Concessional Contribution |
|
≤ $37,000 |
$500 |
15% |
Spouse Superannuation Tax Offset
You can claim an 18% tax offset worth up to $540 for contributions on behalf of your spouse who is earning a low income or not working.[2] [3]
|
Financial Year |
Receiving Spouse Assessable Income (SAI) |
Maximum Contributions Entitled to Tax Offset (MC) |
Maximum Tax Offset |
|
2016-2017 |
$0 – $10,800 |
$3,000 |
$540 |
|
$10,801 – $13,799 |
$3000 – (SAI – $10,800) |
MC × 18% |
|
|
$13,800 and over |
Nil |
Nil |
|
|
2017-2018 |
$0 – $37,000 |
$3,000 |
$540 |
|
$37,000 – $40,000 |
$3000 – (SAI – $37,000) |
MC × 18% |
|
|
$40,000 and over |
Nil |
Nil |
[2] Meet all of the following conditions – (1) The contributions were not deductible to you, (2) Both you and your spouse were Australian residents, 3) You were not living separately and apart on a permanent basis, (4) Your spouse had not exceed non-concessional contribution cap, (5) Your spouse had not exceeded the transfer balance cap.
[3] You shall discuss with us if you estimated that your spouse’s assessable income will be under the threshold of $13,800 in 2017, or $40,000 in 2018.
