Since 1 January 2006, spouses have been able to split superannuation contributions. The new measures are intended to assist families to maximise the benefits of superannuation, especially where there is a non-working, or low income spouse. This paper focusses on:
- how, when, and with whom, can contributions be split?
- the taxation consequences for the 'splitting spouse', the 'receiving spouse' and the fund
- trust deed amendments and other documentary requirements
- planning opportunities
- tricks and traps.