2022 July – Minerds Bell Newsletter


Client Bulletin

from Andrew Harris principal of Minerds Bell Consultancy Group

Hi, welcome to our July update.

I hope you are safe, well and keeping warm. We are past the winter equinox and the days are getting longer again. Roll on summer.


Financial Markets

Financial Markets remain volatile due to the Russian conflict in the Ukraine, China and US. As relayed last month, markets do come back, and the best action is to hold your course. By switching out of growth assets now you in effect can be crystallising losses rather than ultimately benefiting from a market recovery.


Super Changes

On 1st July, some of the Super changes I mentioned in April and May take effect. The main ones that might interest you are:


  1. Partially removing the work test for those aged 67 to 75

The ‘work test exemption for recent retirees’ is no longer for individuals aged 67 to 75 who make  salary sacrifice or non-concessional contributions (NCCs).

The exemption will still be required for individuals in that age range who wish to claim a tax deduction for their personal contributions. Under the new rules, the work test can be met in any period in the financial year of the contribution. This is different to the current rules, where the work test must be met prior to contributing.


  1. Extending the non-concessional contributions bring-forward age limit

The cut-off age for accessing the NCCs bring-forward rule has increased from 67 to 75 years.

This means that many individuals aged 67 to 74 years (inclusive) who were not previously able to bring forward NCCs cap amounts due to their age, may now do so.

Existing restrictions on the full availability of bring forward contributions will continue to apply to individuals with Total Super Balance over $1.48 million.


  1. Reducing the eligibility age for downsizer contributions to age 60

Individuals aged 60 or older (no upper age limit) at the time the contribution is made can now make downsizer contributions from 1 July 2022.

The maximum downsizer contribution amount is still $300,000 per eligible person.


  1. Removing the minimum monthly threshold for SG contributions

From 1 July 2022, there will no longer be a minimum monthly threshold for an eligible employee to qualify for SG contributions. An employer will need to make these for any amount earned.


Staff News

Our staff have been great during “Covid”, really adapting to working in or way from the office.

About half of us have had Covid, but there’s been no staff-to-staff transmission. We also don’t think we have passed it on to any of our clients, which is good news.

We continue to be mindful of your health concerns. So, if you’d like us to wear a mask during appointments, please just ask.

Recently, our receptionist, Emily and Financial Planner, Will both celebrated birthdays. Happy birthday guys!

That’s it for this month. If you have any concerns regarding financial markets or queries about the Super changes, please call us or drop us a line.

Enjoy the attached articles we hope you find of interest.

That’s all for now.


Andrew Harris

Principal – Minerds Bell Consultancy Group

Important information

The information provided in this document is believed to be accurate and reliable at the date of publication. Any advice in this document is general in nature and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services). This advice does not take into account any person’s objectives, financial situation or needs. Before acting on any advice, a person should consider its appropriateness as well as the relevant product disclosure statement before making a decision. AWM Services is a part of AMP group.


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