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ARTICLE · 17 DECEMBER 2019

Voluntary superannuation contributions from downsizing - an opportunity for over 65s

Stacks Law Firm
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This new legislation allows people to add to their super balance by selling their home once they near retirement age.

AustraliaFinance and Banking
Tony Mitchell
Tony Mitchell
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Introduced in 2018, the downsizer superannuation contribution strategy gives Australians aged 65 and above a considerable opportunity to boost their superannuation savings. It means that eligible people can now sell their home and make voluntary superannuation contributions of up to $300,000 from the proceeds of the sale.

Retirees can add to their super balance

This legislation allows people to add to their super balance by selling their home once they near retirement age. It can be extremely beneficial for those who been unable to maximise their superannuation contributions during their working life. (See Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Act 2017.)

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