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The New Daily
The New Daily
Craig Sankey

Ask the Expert: Who’s right when ATO, super funds give conflicting advice?

Deeming is a set of rules used to work out the income created from your financial assets. Photo: Getty

Question 1. The ATO has told us we are eligible to contribute to our super fund after selling an investment property and having not worked for the last five years. We are 67 years at the time of contributing but the ATO states that because we were 66 during the 2021-2022 tax year we are eligible to contribute.

However, my super fund still keep to the notion that if you have stated you are 67 at the time of contribution you have to pass the work test. Surely the ATO knows what the rules should be and why are eligible members being penalised because of all super funds’ misinterpretation of the rules?

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