Choosing to make a downsizer contribution
From 1 July 2018, individuals aged 65 years or older may be eligible to make a downsizer contribution, of up to $300,000, to their super fund from the proceeds of selling or partially selling their home which is their main residence.
You can only access this downsizer arrangement once, contributing from the sale of one home, including the sale of a partial interest in that home.
If you choose to make a downsizer contribution you must:
- ensure you meet the eligibility requirements
- inform your fund or multiple funds in the approved form
- provide this information, to your fund, when making or prior to making your contribution.
Older Australians who meet eligibility requirements can contribute up to $300,000 from the sale of their home into their super.
Find out about the eligibility requirements and how to make these contributions, including if you have a spouse, by calling Intuitive Super’s award-winning team on 1300 856 064 to find out if you’re eligible.
At Intuitive Super our goal is to ensure that your self-managed superannuation is working to achieve your goals. Read more at carrickaland.com.au/smsf.
Source: ATO
