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Re: Working after retirement and after accessing my super

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Newbie

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Hi 

I plan to retire next year at 60 and I have read much about 'intention' when retiriing and not intending to again being gainfully employed.

I have also read that working 10 hrs per week is not considered gainful employment. However I cannot find any detailed information how this 10 hrs is applied and have some questions.

1. Could I return to work at a future date with my current employer if I work no more than 10 hrs per week? And if so could I work 10hrs per week for 52 weeks = 520hrs per year

2. Is the 10hrs per week averaged over a year eg. could I work full time for 1 week = 35 hrs however this would equate to 0.67 hrs per week over the year

2. Is there any monetary figure applied to the 10 hrs? 10 hrs X $1000 per hour is very different to 10 hrs X $25 per hour

 

Appreciate your response

 

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Devotee

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Hi LeslieManor

 

If you leave employment from age 60 onwards your intentions about future gainful employment are irrelevant.

 

It's only relevant where someone leaves employment before age 60. Once someone is 60 leaving employment is enough, no need to sign a declaration stating you don't intend to ever work again.

 

I don't believe there are hard and fast rules about the 10 hours per week test. I think it depends on the circumstances. If someone works generally the same number of hours across a year and in some weeks it's a bit higher and in some weeks it's a bit lower but on average it's less than 10 hours this would probably satisfy the test. Whereas if someone works 35 hours per week for 3 months of a year then doesn't work in the remaining 9 months it probably wouldn't satisfy the test as it's pretty clear it's full time gainful employment.

 

But it's important to note that the test is about the person's intention at the time of applying for the superannuation benefit. If an opportunity comes up some time later and the person takes up that opportunity but it's clear that it wasn't pre-arranged and the person couldn't have foreseen it or if they did they wouldn't have wanted to take it up, that's ok. ie the test isn't about what happens afterwards. As long as the person genuinely had no intention to work again there's no problem.

 

And no, there's no monetary figure attached to the test. 10 hours per week, regardless of what the hourly wage is.

 

I'm an ATO employee voluntarily providing my time here

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Devotee

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Hi LeslieManor

 

If you leave employment from age 60 onwards your intentions about future gainful employment are irrelevant.

 

It's only relevant where someone leaves employment before age 60. Once someone is 60 leaving employment is enough, no need to sign a declaration stating you don't intend to ever work again.

 

I don't believe there are hard and fast rules about the 10 hours per week test. I think it depends on the circumstances. If someone works generally the same number of hours across a year and in some weeks it's a bit higher and in some weeks it's a bit lower but on average it's less than 10 hours this would probably satisfy the test. Whereas if someone works 35 hours per week for 3 months of a year then doesn't work in the remaining 9 months it probably wouldn't satisfy the test as it's pretty clear it's full time gainful employment.

 

But it's important to note that the test is about the person's intention at the time of applying for the superannuation benefit. If an opportunity comes up some time later and the person takes up that opportunity but it's clear that it wasn't pre-arranged and the person couldn't have foreseen it or if they did they wouldn't have wanted to take it up, that's ok. ie the test isn't about what happens afterwards. As long as the person genuinely had no intention to work again there's no problem.

 

And no, there's no monetary figure attached to the test. 10 hours per week, regardless of what the hourly wage is.

 

I'm an ATO employee voluntarily providing my time here

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