Repealing the work test for voluntary superannuation contributions
From 1 July 2022, individuals who are between 67 to 74 years old will be able to make or receive personal contributions and salary sacrificed contributions without meeting the work test, subject to the existing contribution caps.
Super guarantee $450 per month to be repealed
From 1 July 2022, eligible employees who earn less than $450 per month will be paid super guarantee by their employer if they satisfy the other eligibility requirements.
Downsizer contributions eligibility reduced to 60
From 1 July 2022, the minimum age for making downsizer contributions into superannuation will be lowered to 60.
First home super save scheme – increasing the maximum releasable amount to $50,000
From 1 July 2022, eligible individuals will be able to release up to $50,000 (currently $30,000) under the scheme to assist with the purchase of their first home.
Source: ATO