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Accepting Contributions

Provided the governing rules of your fund allow it, your SMSF can generally accept:

  • employer contributions
  • personal contributions
  • salary sacrifice contributions
  • super co-contributions
  • eligible spouse contributions.

For Members under 65 years of age
Your fund can accept all types of contributions (within certain limits).

For Members aged 65 but less than 70
Your fund can accept mandated contributions*. Your fund can also accept non-mandated** contributions where the member is gainfully employed*** on at least a part-time basis.

For Members aged 70 but less than 75
Your fund can accept mandated contributions*. Your fund can also accept non-mandated** contributions where the member is gainfully employed*** on at least a part-time basis but you can only accept non-mandated employer contributions and member contributions made by the member.

For Members Aged 75 and Over
Your fund may only accept mandated employer contributions*.

 * Mandated employer contributions: These are contributions made by an employer under a law or an industrial agreement for the benefit of a fund member.
** Non-mandated contributions: These are voluntary super contributions.
*** Gainfully employed: Gainfully employed' for superannuation purposes is defined as being employed or self-employed for gain or reward in any business, trade, profession, vocation, calling, occupation or employment [SIS Reg 1.03(1)]. The concept of 'gain or reward' envisages receipt of remuneration such as salary or wages, business income, bonuses, commissions, fees or gratuities, in return for personal exertion. For acceptance of contributions, the test of gainful employment for members 65 and older is gainful employment on at least a part time basis in the financial year in which the contribution is made. Under SIS Reg 7.01 a member is gainfully employed on a part-time basis during a financial year if the member has worked at least 40 hours in a period of not more than 30 consecutive days in that financial year. The trustee cannot take prospective employment into account - the member must have worked at least 40 hours in the financial year before the trustee can accept the contribution.