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The Superannuation Guarantee (SG) is increased to 10% from 1 July 2021. If you have employees, you need to be ready for this...

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Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any...

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With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can...

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Downsizer Contribution Into Superannuation

If you're at least 65 years old and you meet the eligibility requirements, you may be able to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home.

Your downsizer contribution will not affect your total superannuation balance until your total super balance is re-calculated to include all your contributions, including your downsizer contributions at the end of the financial year.

 It will count towards your transfer balance cap which applies when you move your super savings into the retirement phase. You can also access the downsizer scheme only once, and if you sell your home and choose to make a downsizer contribution, you will not be required to purchase another home.

Access more information here, or get in touch with us to check your eligibility and if you have any questions.