answered
Q: Hi, I am aged 71, retired, not working, and receiving a pension from Qsuper. I have $32,000 spare. I believe I can put this money into my Super if I have a job of 40 hours in any one month. I don't have a job. My question is - what constitutes a job? Can I mow my son's lawn during June, this taking me 40 hours spread over the month. Can he pay me a minimal wage of $100.
A: Hi Ronald,
Thank you for your answer. Funny thing is, for years I have been mowing my son's lawn and gardening etc for free. I'm not trying to rip the ATO off, but if he gives me a total of $100 for the 40 hours I spent last month in his yard, do you think the ATO would be OK with that - will I have to have a ABN number or a separate bank account to put the $100 into.
I'm an honest man and genuinely mow his yard but will they think this is just a tax dodge. As mentioned, I have some money in the bank and can buy shares and pay tax on the dividends or put it into my Super, which I would prefer to do.
Thanks again for your time,
Peter.
question
Q: Hi, I am aged 71, retired, not working, and receiving a pension from Qsuper. I have $32,000 spare. I believe I can put this money into my Super if I have a job of 40 hours in any one month. I don't have a job. My question is - what constitutes a job? Can I mow my son's lawn during June, this taking me 40 hours spread over the month. Can he pay me a minimal wage of $100.
