The ability to put more money into a super fund is not the only advantage SMSF members can enjoy from using the downsizer contribution provisions.

A range of contribution rule changes has created an ideal situation for super fund members, but the correct implementation order needs to be followed to maximise the benefits.

The new contribution rules to take effect on 1 July 2022 contain a subtle difference to the current legislation requiring a work test to be satisfied.

Contribution strategies involving salary sacrifice arrangements should be set up well before the end of the financial year.

Recontributions into superannuation to offset the COVID-19 early release of super can soon start, but the ATO has warned an approved form and process must be used.

SMSF expenses paid by a member will be treated as a contribution unless the member moves quickly to claim a reimbursement.

Superannuation contribution caps should be shifted from an annual to lifetime basis to better recognise contribution patterns and reduce costs and complexity.

A proper understanding of the bring-forward rule for non-concessional contributions is required to prevent taking steps that seem logical but may be illegal.