Superannuation: Work Test exemption signed into law

Article published 1 February 2019

Superannuation: Work Test exemption signed into law

THE work test requires people between the ages of 65 and 74 to work a minimum of 40 hours during a period of 30 consecutive days to make voluntary, after-tax contributions to superannuation. After 74, no further contributions can be made, except employer contributions.

From 1 January 2019, people with superannuation balances below $300,000 will be able to make voluntary, after-tax contributions to their superannuation for twelve months from the end of the financial year in which they last met the work test.

There’s no lower or upper limit to the contribution as long as you don’t exceed the usual after-tax (non-concessional) contribution limits.

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