It's one split that's good for togetherness!
From 1 January 2006, breakthrough legislation was introduced in Australia. Now you can now
split personal and employer superannuation contributions with your husband, wife or eligible
partner if you are in a de facto domestic situation.
(Please note: same sex couples are not eligible at this stage.)
Splitting means that some of your super contributions can be transferred to either person's
superannuation account in the same fund, or to another complying superannuation fund.
Splitting your super can help even out the imbalance of your super accounts and could also
improve your tax situation at retirement.
The split will generally occur once a year, after the end of each financial year.
How big is the split?
Contributions to be split may be transferred to an NGS Super spouse or
partner account or to another complying superannuation fund of which the spouse or partner is a
member.
What's not included?
Contributions do not include employer ETPs, rollovers and transfers from other funds, so
you must request the contribution split before transferring your super to another fund.
We recommend that members interested in contribution splitting get
appropriate financial planning advice before making a decision.
To get the ball rolling, simple complete an
NGS Super Contributions Splitting Form.
Remember...As part of your membership benefits, all NGS Super members have access to an
obligation free one hour consultation through Mercer Wealth Solutions or Industry Fund Financial
Planning (IFFP). Any further charges incurred are based on a pre-established fee-for-service basis.
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