Super rules that came into force on 1 July 2022 offer multiple opportunities for older Australians wanting to make super contributions to boost their retirement savings.
The two major changes are removal of work test requirements for receiving any type of super contribution for anyone under the age of 75 (except when making personal tax-deductible contributions for people aged 67 to 75), and the extension of the non-concessional contribution (NCC) bring-forward rule for anyone between age 67 and 75 (the relevant bring-forward rule eligibility criteria still apply).
Read more on the new super rules.
Good to know: It’s important to understand that for anyone about to turn 75, super contributions must be received no later than 28 days after the end of the month they turn 75.
