Want to unlock some of the equity in your home to boost your retirement income? If you’re aged 65 or over, you may be able to downsize your home and add up to $300,000 to your super.
The superannuation work test does not apply to downsizer contributions1 and they are also exempt from contribution caps.
To make a downsizer contribution, you will need to sell your home on or after 1 July 2018 and complete the Australian Taxation Office (ATO) ‘Downsizer contribution into superannuation’ form.
1 See fact sheet for details.
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