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Regarding point no.2 in today’s email about “7 Super actions to take…”
It finishes by saying;
To do this, you must be 64 years of age or younger at the start of the financial year – so if you are turning 65 years next financial year, you only have 21 days left to access this rule.
It was my understanding that anyone turning 65 next year has up until the day they turn 65 to access that rule, not the 21 days left in June. Please advise if I am wrong, because my strategy very much depends on it.
A: You are right – I didn’t actually phrase the sentence carefully enough. You must be under 65 on 1 July in the year that you do it. If you make the contribution after turning 65 (ie still in the year that you were 64 on 1 July), you must at the time still satisfy the work test.
Apologies for any confusion.
