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.

An SMSF expert has said trustees who fall under the downsizer contribution age may still be eligible to make a contribution if their birthday aligns with the 90-day settlement period.

SMSF reserves can be reduced by looking past contribution caps and using them to force cash into the hands of members.