This article is more than 24 months old and is now archived. This article has not been updated to reflect any changes to the law.
In ClearLaw last month, we told you about the draft regulations that allow couples (including de facto couples) to split their contributions between their funds. This legislation helps couples to avoid one spouse accruing super benefits above their reasonable benefits limit (and being taxed accordingly), whilst the other spouse has super benefits well below those limits. In sum, it allows couples to accrue more super benefits between them which will be concessionally taxed on retirement.
The regulations which were released on 12 October 2005 have now been amended and were passed last week.
The amendments are:
For other details about splitting contributions that are not affected by the amendments, see ClearLaw November 2005
The amended regulations were released on 22 November 2005 and have now passed through Parliament.
Julian Smith is a partner in the Maddocks Commercial team.
Julian advises extensively in the following areas:
Julian advises clients ranging from public companies servicing the wholesale financial services market to high net worth individuals and their advisers.
Julian has been with Maddocks since undertaking articles in 2001.
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