Super contributions beyond the age of 75
Q: If the SG contribution age limit is being removed completely effective July 2013, does this mean that additional concessional or non-concessional contributions can also be made by those aged over 75?
Non-concessional contributions at 64
Q: My wife turns 65 in early June 2011 . Can I make a spouse contribution of up to $450,000 before her birthday? Her last non-concessional contribution of $157,711 was made in 2007-08.
Do sale of shares satisfy a work test?
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?
SMSF basics: Is there a minimum or maximum age for starting a DIY super fund? (2 questions)
Q: Let us say I contribute to super to a retail managed fund and then at 65 I want to receive an income and/or the fund says I am no longer eligible to remain in the fund and I have to take the money. Can I at that time set up a DIY super fund?
SMSFs: Can I run two super funds? (2 questions)
Q: My wife is 58 and retired and she has her own self-managed super fund, where she has rolled over her super funds from various employers. She plans to start her SMSF pension soon.
Do I have to be working to make super contributions?
The answer is no if you’re under the age of 65. Anyone under the age of 65 can make super contributions whether they are working, rearing children, looking after a sick partner, recovering from illness or on an extended holiday.
SMSF pension: Can I still make super contributions?
Q: I am 62 years of age and retired. I have recently commenced an account-based pension from my SMSF. Can I still make non-concessional contributions to that fund?
Over-65s work test: How does it operate again?
Q: I am a little confused by the work test requirements. I have two questions…
1. Does 40 hrs in any 30-day period include weekends or is it 6 x 5 day weeks? 2. Is there a maximum that can be worked in any financial year
Bring forward rule: 10 facts you should know
I receive a lot of questions from readers seeking information about how the non-concessional (after-tax) super contributions rules work; in particular, how the bring-forward rule works.
Beef up your super using a bring forward
Q: Under the 2-year bring-forward of non-concessional contributions, if a person makes a contribution of $150,001 when age 64, he can continue to contribute the balance of the $450,000 anytime during the next 2 years without having to satisfying the work test, is that right?
Turning 65: Maxing out the after-tax contributions cap
Q: If you turn 65 and retire after 1 July 2011, can you still make the $450,000 bring-forward non-concessional contribution as long as it’s before 30 June 2011? Or do you have to satisfy the work test to do so?
