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The work test requires the individual to work for 40 hours in a period of not more than 30 days. Even though the individual has sold the farm and plans to retire, they could perhaps pass the work test some other way. We had a 70+ year old client who delivered catalogues for one month a year...

Yes, the work test must be satisfied BEFORE any superannuation contribution is made for the over 65's. The CGT event doesn't end the ability to meet the work test, but the original facts state that the work test may be difficult to pass if the person retires. Perhaps the seller could...

Correct, the work test has to be satisfied before the contribution is made. Moving settlement should allow for the work test to be completed. If the purchaser won't move settlement, what then? One idea is to satisfy the work test some other way, and as the contribution doesn't have to...

Quick thought re: borrowing. The 15 year rule talks of contributing the 'proceeds of sale' into superannuation and having this count against the lifetime cap. Question: If the taxpayer borrows to contribute before the settlement, are they contributing the proceeds? They haven't received the...