Q: I am 68 years of age. Does assessable income from sale of shares satisfy a work test for concessional contributions to super up to the $50,000 cap, or does one need to have other specific employment income for at least 40 hours to satisfy the work test? We would appreciate your comments as we are unable to find the taxation reference on this point.
The work test involves some paid activity rather than passive income, although you will need to verify your personal circumstances with an accountant or the ATO.
The following articles provide further background:
- Over-65s work test: How does it operate again?
- For over-65s: Ten super tips when making contributions
