INTHEBLACK August 2022 - Magazine - Page 50
F E AT U R E
// S U P E R A N N U AT I O N C H A N G E S
AT A
GLANCE
Older working Australians
and retirees benefit the
most from changes to the
super system that apply
from 1 July 2022.
A key change is the
removal of the work test
for individuals aged
between 67 and 74 when
making or receiving
personal or salary super
contributions. This change
allows people aged under
75 to use the three-year
bring-forward rule to
make non-concessional
super contributions to a
maximum of A$330,000.
The eligibility age for
home “downsizer”
contributions has been
lowered from 65 to 60.
Eligible individuals will
be able to add up to
A$300,000 into their
super from the proceeds
of their principal place
of residence.
50 ITB August 2022