Dear Sir/Madam,
Husband & Wife are members of a SMSF. They are about 50 -55 years old
Husband want to give all super balance of him to his wife as voluntary
They are not divorce, not pensioner . I am wondering whether super law allow they do now?If Yes what docs need for audit?
Many thanks
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Hi Phuong
No a spouse in your situation cannot give or transfer superannuation to a spouse.
If they were divorced or separated superannuation can be split to a spouse but they would have to follow the required legal process.
Once a member meets a condition of release (eg. turning age 65) there would be the ability for a spouse to withdraw their superannuation and then contribute it the spouse subject to age limits and the the contribution cap rules.
Thanks
THE AUDITORS INSTITUTE