At what age can you no longer contribute to super?

If you’re 67 years of age and over Generally, if you’re 67 years of age or over and no longer working, you can’t add to your super—unless you want to make a downsizer contribution (see below).

Can I contribute super after 67?

You can contribute to your super at any time up to age 67, even if you’re not working. From age 67 to 74 you can make contributions as long as you meet the work test. To meet the work test you need to work at least 40 hours in any consecutive 30-day period during a financial year.

What is the maximum personal super contribution for 2020?

For the 2017-18, 2018-19, 2019-20 and 2020-21 financial years, the general concessional contributions cap is $25,000 for all individuals regardless of age.

Can a 70 year old contribute to super?

Super rules if you’re aged 70 plus. Once you turn 70, you have nearly reached the end of your eligibility to make contributions into your super account although some restrictions will be lifted from 1 July 2022 (see Need to know below).

Can I salary sacrifice to super after 65?

If you are aged between 67 and 74, you are only able to make salary sacrifice and personal concessional contributions if you meet the work test or work test exemption. If you are 75 years or older, you are unable to make personal concessional or salary sacrifice contributions to super.

Can over 65 make non-concessional contributions?

Eligible Australians aged 65 or over are able to make a tax-free non-concessional contribution to their super of up to $300,000 each using the proceeds from the sale of their main residence – regardless of caps and restrictions, such as the work test, that otherwise apply.

Can I start a super fund after I retire?

It’s perfectly okay to start making super contributions again if you retire but later change your mind and re-enter the workforce. That includes if you have made a written declaration to your super fund you intended to retire and have taken a lump sum super payout or are receiving ongoing payments from your super fund.

Can I put money into super after retirement?

Super Contributions Under Age 67 and Retired While you are under age 67, you are free to make either concessional or non-concessional contributions to super, regardless of your employment status. Also, if you are over age 65, you are eligible to make the downsizer contribution.

Can I contribute to super after age 75 ATO?

Members 75 years old or over Super co-contributions and employer contributions that relate to a valid contribution period for the member can be accepted at any time.

Can you put money into super after you have retired?

How much can you put in Super Over 65?

If you are aged 65 or over, a downsizer contribution of up to $300,000 can be made into your super account using the proceeds from the sale of your home. For couples, both partners can make a downsizer contribution, so you can contribute up to $600,000 per couple into your super accounts.