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This form allows individuals to split concessional contributions made to their smartMonday account and transfer a portion to their spouse\'s superannuation account. This process can help in balancing super amounts and provide potential tax advantages. Important details about the procedure, requirements, and contact information for inquiries are included.
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What is contributions splitting form?
The contributions splitting form is a document used to allocate contributions made to a retirement account between two individuals, typically in cases of divorce or separation.
Who is required to file contributions splitting form?
Individuals who are undergoing a divorce or separation and wish to split retirement account contributions between themselves are required to file the contributions splitting form.
How to fill out contributions splitting form?
To fill out the contributions splitting form, individuals must provide necessary personal information, details of the retirement accounts involved, and specify the percentage or amount to be split.
What is the purpose of contributions splitting form?
The purpose of the contributions splitting form is to legally divide retirement contributions between ex-spouses or partners, ensuring that both parties receive their entitled portion.
What information must be reported on contributions splitting form?
The contributions splitting form must report personal information of both parties, details of the retirement accounts, the amount or percentage of contributions to be split, and signatures of both parties.
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