Voluntary Superannuation Contributions

Share on facebook
Share on linkedin

Work test repealed for voluntary superannuation contributions

Date of effectThe first financial year after Royal Assent of the enabling legislation Expected to be 1 July 2022
  • Individuals aged 67 to 74 years will be able to make or receive non-concessional or salary sacrifice superannuation contributions without meeting the work test.
  • The contributions are subject to existing contribution caps and include contributions under the bring-forward rule.
  • Currently, the ‘work test’ requires individuals aged 67 to 74 years to work at least 40 hours over a 30 day period in a financial year to be able to make voluntary contributions (both concessional and non-concessional) to their superannuation, or receive contributions from their spouse.
  • Personal concessional contributions will remain subject to the ‘work test’ for those aged between 67-74.