An article in the Sun Herald, p36 Jan 7th, states that an Oz resident does not have to be employed or self-employed in order to make a deductible contribution to a SMSF.
The point in making such a contribution is that the first $5000 can be fully offset against higher rates of tax, as can 75% the remainder, up to the current annual limit of $105,113. 15% tax will be payable on the amount contributed, which is a considerable saving against marginal rates of up to 47% plus medicare. Thus someone can realise a substantial capital gain with greatly reduced tax by putting the proceeds into their super.
I have searched the ATO website and the Australian Tax Handbook, but both appear to suggest that to do this you must be employed or self-employed. Does anyone know if the Sun Herald's columnist is correct? If so, where can I find the details of the legislation that supports this?