In 2020, a husband and wife approached us with the intention of maximizing their superannuation contributions after selling their family home for just under $2 million, where they had lived for nearly 20 years. To achieve this, we devised a strategy that combined Downsizer, non-concessional, and concessional contributions. At the time, individuals over the age […]
“Downsizer” contributions let you contribute some of the proceeds from the sale of your home into superannuation – but there are several important eligibility requirements. Are you thinking about selling the family home in order to raise funds for retirement? Under the “downsizer” contribution scheme, individuals aged 65 years and over who sell their home […]
The Assistant Treasurer, Michael Sukkar, has announced that older Australians downsizing from their family homes have contributed $1 billion to their superannuation funds. The downsizer measure, which commenced on 1 July 2018, allows older Australians choosing to sell their home and downsize or move from homes that no longer meet their needs, to contribute the […]