Older Australians may be eligible to downsize their home and boost their superannuation. Contributing the proceeds of downsizing into super measure was one of several announced in the 2017–18 Budget as part of the Government’s reforms to decrease pressure on housing affordability in Australia.  

From 1 July 2018, if you are 65 years old or older and meet the eligibility requirements, you may be able to choose to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home. 

Click here to visit the ATO’s website for more about the measure and eligibility. 

To find out more, please contact your accountant at Rosenfeld Kant on (02) 9375 1200 or email gary@roskant.com.au, raul@roskant.com.au, elias@roskant.com.au