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Super opportunities from July 1, 2022

Published 29 June 2022

Super opportunities from July 1, 2022

The Government first announced several big changes to super contributions for older people in the 2021/22 Federal Budget. These included:

  • partially removing the work test for people aged 67 to 74^, extending eligibility to make non-concessional contributions (NCCs) under the bring-forward rule to people under age 75 at the start of the financial year,
  • increasing the maximum amount of eligible contributions made over multiple financial years that can be released under the First Home Super Saver (FHSS) Scheme from $30,000 to $50,000, and
  • reducing the downsizer contribution eligibility age from 65 to 60 years.

The good news is that these proposals have now been legislated and are ready to go from July 1, 2022.

^ Includes a period of up to 28 days following the end of the month in which the person turns age 75

Work test removal – it’s about time!

From July 1, 2022, a person who has reached age 67 can make/receive voluntary (both member and employer) contributions up until 28 days following the end of the month in which they turn 75 without meeting the work test (or work test exemption). However, the work test (or work test exemption) will still be required as a condition (under the Tax Act) for people in this age cohort to claim a tax deduction for personal contributions.

No change to age 75 cut-off

Importantly, voluntary contributions cannot be made outside 28 days following the end of the month in which the person turns age 75.

Extension of non-concessional bring-forward rule – from 65 to 67 and now under 75!

One way of maximizing your superannuation contributions and boosting your account could be to use the bring-forward rule. The bring-forward rule previously allowed those under 67 years old to make up to three years’ worth of non-concessional (after-tax) contributions to their super in a single income year. Under the new rules, the age of eligibility has increases so to trigger the bring-forward rule, a person must be under age 75 on July 1 of the financial year in which you contribute.

First Home Super Saver (FHSS) scheme

Under the First Home Super Saver scheme, first-home buyers have been able to make voluntary contributions to super that can ultimately be withdrawn, along with associated earnings, to purchase their first home.

The maximum amount of eligible contributions that can now be released under the FHSS Scheme will be increased from $30,000 to $50,000. However, the $15,000 per financial year limit and all other eligibility requirements will remain.

Downsizer superannuation contributions

Currently, if you are aged 65 and older, you can contribute proceeds from the sale of your home to super. You can contribute up to $300,000 regardless of your age, work status or total superannuation balance.

From 1 July 2022 the eligibility age at which you can make a super downsizer contribution will reduce from 65 to 60.

All other downsizer contribution eligibility requirements will remain the same.

Note that a person's age for determining eligibility for the downsizer rules is their age when they make the contribution (not settlement or exchange of contracts).


The changes from July 1 are a step closer to simplifying the super system for older people. That having been said, there are still some complicated rules in this area, and it is essential that you seek professional financial advice on these matters to ensure the right decisions for your particular circumstances and goals.