Australians can make voluntary superannuation contributions up to the age of 74 (that is, before you turn 75), and these super contributions can be concessional (before-tax) or non-concessional (after-tax) contributions. If you’re aged 65 or over however, then you must satisfy a work test, if you intend to make super contributions. Anyone under the age of 65 can make super contributions without having to satisfy a work test.
Note: Regardless of your age, your employer must make Superannuation Guarantee contributions for as long as you continue working and remain eligible for SG contributions (for example, earn a minimum of $450 a month). The payment of SG used to be only required for those aged under 70, but the requirement was broadened to any age since 1 July 2013. For more information on this change to the SG rules, see SuperGuide article Employer super (SG) contributions paid for over-70s.
Downsizing and super: In the May 2017 Federal Budget, the government announced that from 1 July 2018 (and now law), older Australians (65 and over) will be allowed to contribute part or all of the proceeds of their home (up to a limit of $300,000 per individual), without the need to satisfy a work test, and even applies to an individual who is aged 75 years or over. For more information on the downsizing policy, see SuperGuide articles Contributing super by downsizing your home: 10-point guide and Over 65? Sell your home and contribute more to super.
Here are ten tips to help you understand the super contribution rules for over-65s.