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In 2019 ASIC stated that, on average, SMSFoperators spend more than 100 hours a year managing their funds. My husband is a retired commercial lawyer and he has been responsible for the majority of the work on our fund. He has easily spent that amount of time and my question is - If the super fund pays him for 40 hours of work, at a reasonable rate, would this satisfy the Work Test for members aged over 65? I appreciate the SMSF must accept it, but my concern is satisfying ATO requirements. Any advice would be appreciated, thanks
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