Select superannuation contribution splitting

Superannuation contribution splitting enables a member to elect to split their personal and employer contributions with their spouse. Contribution splitting helps low income and non-working spouses to build and control their own superannuation.

You may split:

• up to 100% of after-tax contributions (formerly known as undeducted contributions and now referred to in the law as non-concessional contributions) and government co-contributions made before 5 April 2007. Please note that once these contributions are split they will form part of your spouse's taxable component.
• up to 85% of any concessional contributions (including superannuation guarantee and other employer contributions, salary sacrifice and personal contributions for which a tax deduction has been claimed) up to the concessional contributions cap. 

Please note that contributions made during a financial year may only be split after the end of that financial year (or during that financial year if you are withdrawing your entire benefit). You have until the following 30 June to request your contributions to be split.  

You may not split transfers of overseas superannuation benefits to an Australian fund.

How does splitting work?

To be able to split your superannuation contributions with your spouse, your spouse must meet one of the following criteria:

• your spouse has not yet reached their preservation age or

• your spouse has reached their preservation age but is aged less than 65 years and has not retired from the workforce or
• your spouse has reached their preservation age but is aged less than 65 years and has never been gainfully employed for 10 or more hours per week.

Please note that you may only make one application to split your superannuation contributions in Perpetual's Select Superannuation Plan each financial year.

When we receive a valid application, Perpetual will transfer the superannuation contribution amount as soon as practicable within 90 days.

Your spouse will not be charged contribution fees when you transfer superannuation contribution splitting amounts into their superannuation account (that they hold with Perpetual). Minimum balance and minimum investment requirements are also waived for your spouse when they receive a split superannuation contribution amount.

How do I split my contributions?

You need to follow three simple steps to split your contributions.

Step 1 - Ensure your spouse has a super account
If your spouse is invested in a superannuation product or service with Perpetual or has an existing superannuation account with another provider, proceed to Step 2.

To become a member of Perpetual's Select Superannuation Plan, your spouse will need to complete the Application form contained in Perpetual's Select Superannuation Plan Product Disclosure Statement. Your spouse may wish to speak to a financial adviser when considering this.

Step 2 - Decide on a contribution amount
Decide on the contribution amount you would like to transfer to your spouse. You may wish to speak to a financial adviser when considering this.

Step 3 - Complete and return the form
Ensure both you and your spouse complete and sign ‘Perpetual's Select Superannuation Contribution Splitting’ form (download Perpetual's Select Superannuation Contribution Splitting form) and return it to Perpetual at:

Reply Paid 4204
Perpetual's Select
GPO Box 4024
Sydney NSW 2001

For more information about Perpetual’s Select Superannuation Plan or to obtain a copy of Perpetual’s Select Superannuation Plan Product Disclosure Statement, please contact your Select Relationship Manager or the Select Client Service Team on 1800 003 001. Alternatively, email selectfunds@perpetual.com.au.

This information has been prepared by Perpetual Superannuation Limited (PSL) ABN 84 008 416 831, AFSL 225246 RSE L0003315. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. The PDS for Perpetual’s Select Superannuation Plan, issued by PSL, should be considered before deciding whether to acquire or hold units in the fund.