Work Test

For a contribution to be made to your SMSF when you are 65 or older, you will need to meet the requirements for the work test, which requires you to be gainfully employed.

Being gainfully employed means working for at least 40 hours during a consecutive 30-day period. This test has to be met each financial year in order to make contributions (both concessional and non-concessional) into your SMSF. Unpaid work is not considered as being “gainfully employed”.

Once you have met the work test, and you are between 65 and 69 years old, your super fund can accept:
  • Employer contributions, such as
    • Voluntary contributions.
    • Other amounts paid by your employer to your fund such as administration fees and insurance premium.
  • Contributions made by you and third party, such as spouse, etc…

For more info regarding the work test and contributions caps for age between 65 and 69 years old, please see here.

If you are 70 or older, your SMSF can accept:
  • Mandatory super contributions made by employer.
  • Employer contributions, such as:
    • Voluntary contributions.
    • Other amounts paid by your employer to your fund such as administration fees and insurance premium.
  • Contributions made by you ONLY.

For more info regarding the work test and contributions caps for 70 years old and above, please see here.

If you are 75 or older, your SMSF can only accept:
  • Mandatory super contributions made by your employer.

For the contributions caps for the age between 65 and 69 years old; 70 years old and above, please see the table below:

Pensions can be a complicated area, and for guidance on how to treat different aspects on pensions, please view our pension page.

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We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.

No Advice

Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.