SMSF Association submission on exemption from the work test for superannuation contributions

SMSF Association Submission

The SMSF Association (SMSFA) welcomes the opportunity to make a submission on the legislation and regulations which will provide a one-year exemption from the work test for superannuation contributions for certain taxpayers.

The ability to allow recent retirees and older Australians to boost their superannuation balances is strongly supported by the Association.
However, we do raise concerns regarding the complexity of the superannuation contribution legislation, especially for individuals of an age approaching 65 up to 75. Individuals should be able to have a simple understanding of their contribution limits and the opportunities available to them and we believe the current combination of superannuation rules, including the proposed amendments, makes this difficult.

Submission on exemption from the work test for superannuation contributions

SMSF Association Submission