“As time continues to pass with no movement, more Australians are facing potential disadvantages,” Mr Ashenden said in a recent BT Technical Services podcast.

Mr Ashenden noted that the changes to the bring-forward rule were intended to take effect from 1 July 2020, in line with the regulations that were made earlier this year that pushed the requirement to meet the work test for non-concessional contributions from age 65 to 67.

“Unfortunately, however, there are an increasing number of Australians who may be inadvertently disadvantaged because of the delay,” he stated.

“This would be for those Australians who were aged 66 at 1 July 2020 and hoping to use the bring-forward rule this financial year. If they have now turned 67, and assuming the bill is ultimately passed, while they could still use the bring-forward rule, they will need to meet the work test, or work test exemption, in order to make the contribution.”

He pointed out that advisers will need to ensure that any work undertaken to meet this requirement is genuine employment to ensure there is no unintended breach of Standard 1 of the FASEA Code of Ethics.

“Hopefully when the bill is passed, we may see some form of transitional relief provided to ensure that Australians in this situation are not unfairly disadvantaged — but like everything to do with this measure, only time will tell,” Mr Ashenden said.