{"id":7881,"date":"2023-03-06T12:01:29","date_gmt":"2023-03-06T01:31:29","guid":{"rendered":"https:\/\/adelaideprivatewealth.com.au\/downsize-your-property-and-boost-your-super\/"},"modified":"2023-03-06T12:01:29","modified_gmt":"2023-03-06T01:31:29","slug":"downsize-your-property-and-boost-your-super","status":"publish","type":"post","link":"https:\/\/adelaideprivatewealth.com.au\/downsize-your-property-and-boost-your-super\/","title":{"rendered":"Downsize your property and boost your super"},"content":{"rendered":"
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Downsizer contributions<\/h3>\n

Once you reach age 55, you may find yourself wanting to downsize your family home into something smaller or more suited to your changed needs.<\/p>\n

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How it works<\/h3>\n

The downsizer contribution allows eligible Australians aged 55 or older to sell their primary residence and contribute up to $300,000 ($600,000 for couples) of the proceeds into their super.<\/p>\n

The amount your can contribute to super can\u2019t be greater than the total proceeds of the sale of your home.<\/p>\n

What are the benefits?<\/h3>\n

Boost your super<\/strong><\/p>\n

Downsizer contributions give your super an instant boost to your balance in retirement.<\/p>\n

Start an income from your super in retirement<\/strong><\/p>\n

Downsizer contributions allow you to take advantage of a concessionally taxed or, if you are aged 60 or over, generally tax-free source of income, by using the wealth from the sale of your home to provide for your income needs in retirement.<\/p>\n

Am I eligible?<\/h3>\n

To make a downsizer contribution:<\/p>\n