Superannuation Contributions
Personal Contributions: Eligible individuals can claim a deduction for personal super contributions.
Super Co-contribution: Government matches personal post-tax super contributions for low to middle-income earners.
Spouse Contributions: Tax offset for super contributions on behalf of a low-income or non-working spouse.
Contribution Type | Criteria |
|---|---|
Personal Contributions | Eligible individuals can claim a deduction. |
Super Co-Contributions | Government matches contributions for low to middle-income earners. |
Spouse Contributions | Tax offset for contributions on behalf of a low-income spouse |
Example: Superannuation Contributions
Scenario: Michael made the following super contributions:
Personal Contributions: $5,000
Super Co-contribution: $500 matched by the government
Spouse Contributions: $2,000
Reporting Deductions
Contribution Type | Amount |
|---|---|
Personal Contributions | $5,000 |
Super Co-Contributions | $500 |
Spouse Contributions | $2,000 |
Total Contributions | $7,500 |