Downsize from 55: What You Need to Know

If you’re looking to downsize, you may want to take advantage of the downsize contribution of up to $300,000. The eligible age changed from 1st Jan 2023 and now the minimum age is 55. This is a significant change that could offer great benefits to those looking to sell their main residence and another imperative to keep in mind when …

Is it a good idea to downsize your home to upsize your super?

Since 1 July 2018 Australian seniors have been able to make what is known as a “Downsizer Contribution” to their superannuation fund of up to $300,000, which means if you are a couple you could get a combined $600,000 into superannuation ($300,000 each) if you downsize. The benefits of the downsizer contribution are that you don’t have to buy another …