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WPL(Newbie)Newbie
21 Apr 2023

It must be painfully obvious to everyone except me.


On the ATO web site it says:-

" Work test

From 1 July 2022 if you are under 75 years of age, you will no longer need to meet the work test to make or receive non-concessional super contributions and salary sacrifice contributions. If you are aged 67-74 years, you will however be required to meet the work test in order to claim a personal superannuation contribution deduction. "


For the next few years I would like to claim a personal superannuation contribution deduction (I understand the limit is currently $27,500/year) for each year until I can no longer claim because I do not do any paid work. So does this mean that if my birthday is in the middle of the financial year (ie December) and I turn 67 in a particular financial year I do NOT have to meet the Work Test in that year because I was only 66 years old on the 1st of July of that financial year?

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1,066 views
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Bruce4Tax(Taxicorn)Taxicorn
21 Apr 2023

I turn 67 in a particular financial year I do NOT have to meet the Work Test in that year because I was only 66 years old on the 1st of July of that financial year?


No - you do not need to meet the work test in that year if you are under age 67 on the day that you make the conc. contribution. On the day you turn 67, then work test required, or no conc. contribution.


https://www.ato.gov.au/individuals/super/in-detail/growing-your-super/super-contributions---too-much-can-mean-extra-tax/?page=8


https://firstfinancial.com.au/superannuation-work-test/


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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
21 Apr 2023

I turn 67 in a particular financial year I do NOT have to meet the Work Test in that year because I was only 66 years old on the 1st of July of that financial year?


No - you do not need to meet the work test in that year if you are under age 67 on the day that you make the conc. contribution. On the day you turn 67, then work test required, or no conc. contribution.


https://www.ato.gov.au/individuals/super/in-detail/growing-your-super/super-contributions---too-much-can-mean-extra-tax/?page=8


https://firstfinancial.com.au/superannuation-work-test/


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