Mercy Super offers a number of ways to build your super together:
- Spouse account – your spouse or partner can become a Mercy Super member, just like you and enjoy all the same benefits.
- Spouse contributions – and access tax benefits if you’re eligible.
- Contribution splitting – you can split up to 85% of your before-tax (employer and any salary sacrifice) contributions to their super.
Your spouse joining Mercy Super
All your spouse needs to do is complete a Spouse application form, return it to us, and we’ll do the rest. Make sure your member number is included and you’ve signed the form too. Once the account is established they can also arrange for their employer to make contributions to their new Mercy Super account.
You don’t have to be married to have a ‘spouse’
An eligible spouse is someone who:
- You’ve legally married under Federal Law.
- You’re in a relationship with someone that is registered under a state or territory law.
- You’re living with on a genuine domestic basis in a relationship as a couple.
Once your spouse is set up as a Mercy Super member, they can arrange for contributions to be paid into their account. In addition to eligible before-tax and after-tax contributions that can be paid into their account (for example from their employer or from them directly), you can also make contributions to your spouse’s account provided they are:
- Under 65, or
- Between 65 and 69 and have worked at least 40 hours in a period of not more than 30 consecutive days in the current financial year.
Take advantage of the tax offset bonus
If you make contributions to your spouse’s account and they earn less than $40,000 in a financial year, you may be eligible for a tax offset of up to $540. But first let’s look at the rules to obtain the full $540 offset:
- Your spouse must earn $37,000 p.a. or less.
- You’ll need to contribute $3,000 after-tax to your spouse’s super.
- You can only use the tax offset to reduce the tax payable on your assessable income.
If your spouse earns between $37,000 and $40,000 you’ll still receive a partial offset. You can find more information on the ATO website.
Contribution splitting lets you transfer up to 85% of your before-tax (employer and salary sacrifice) contributions to your spouse’s account. It’s useful if:
- You and your spouse have plans to access your super after your preservation age and before you turn 60.
- There are significant age differences between you and your spouse.
- You’re looking to top up your spouse’s super account or equalise the super between you and your spouse.
You can find out more about contribution splitting from our Splitting super contributions fact sheet.