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  • Age restrictions on contributions

    There is no age restriction on your SMSF accepting mandated employer contributions.

    If a member is over 65 years old but not 75 years old, they must have worked at least 40 hours within 30 consecutive days in that financial year before your SMSF can accept certain contributions for your members. This is known as the work test.

    You need to be sure the following contributions can be accepted if your member is 65 years old or older:

    • non-mandated employer contributions
    • personal contributions
    • spouse contributions
    • government co-contributions.

    The table below looks at age restrictions in more detail.

    For your SMSF to accept a downsizer contribution the member must be 65 years old or over, there is no maximum age limit and no requirement to meet the work test.

    Age restrictions on accepting contributions

    Age of member at the time of contribution

    Member meets the work test

    Member does not meet the work test

    Under 65 years old

    All contributions can be accepted, except downsizer contributions.

    All contributions can be accepted, except downsizer contributions.

    65 to 69 years old

    All contributions can be accepted.

    You can only accept:

    • mandated employer contributions
    • downsizer contributions.
     

    70 to 74 years old

    You can only accept:

    • mandated employer contributions
    • downsizer contributions
    • personal contributions and other non-mandated contributions received, on or before 28 days after the end of the month in which the member turns 75 years old.  
     

    You can only accept:

    • mandated employer contributions
    • downsizer contributions.
     

    75 years old or over

    The work test is not applicable.

    The work test is not applicable.

    For member who are 75 years old or older, if the contribution is made more than 28 days after the end of the month in which the member turned 75 years old, the only acceptable contributions are mandated employer contributions and downsizer contributions.

    TFN restrictions on contributions

    Every member of the fund needs to supply their tax file number (TFN) for super purposes.

    If your member has not given you their TFN, you can only accept employer contributions. All other contributions must be returned to the contributor within 30 days unless the member gives you their TFN within that period.

    If any of your members haven't supplied their TFN, their contributions will be taxed at a higher rate – see Assessable contributions.

    You must ensure that you correctly report member TFNs to us every year, or we may:

    • make you return contributions for the member
    • tax their contributions at a higher rate.
      Last modified: 22 Mar 2019QC 21807