Can I put more into super now that work test has gone?
A self-employed reader over 67 wants to know how to meet the “gainfully employed” rules to make a tax-deductible contribution.
Q: Can you please explain how the superannuation work test applies for someone who is over 67 and self-employed who wishes to make tax-deductible contributions to super? The test seems to be straightforward for an employee. But for someone who is self-employed, how can you judge if he is gainfully employed? Sandy
A: The removal of the work test last July has made it possible for self-employed Australians (who often don’t have enough retirement savings) to explore a range of super strategies that can allow them to make both tax-concessional and personal contributions up to 75.
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