Superannuation for Child

 Author: Bruce4Tax(Taxicorn)Taxicorn

2 Sept 2024

- Can I open a superannuation account for my child who is under 11 years old and not currently working; and make monthly contributions to his super account from my after-tax salary?

Yes - if super fund will accept him as a member.

https://community.ato.gov.au/s/question/a0J9s000000RSt0/p00225389

- Will my child be able to use this super account when he starts working and earning income?

Should be - hard to predict the future.

- As I will be obtaining TFN for him in order to open a Super account, will I need to do annual tax filing for my child, even though he won't be earning any income except for the regular monthly contributions I will be making to his account?

Yes, or ATO needs to be notified tax returns not required.

- Will the contributions I make to his super account be treated as income for him and subject to additional income tax, in addition to the 15% contributions tax that is deducted, if annual contributions are less than $15k?

No, and there will be no 15% tax charged by the super fund.

You need to discuss with a super fund first.