From 1 July 2018, when Australians aged 65 and over sell their home they have owned for at least 10 years, they can contribute up to $300,000 from the proceeds into their superannuation account.
Where a couple downsize they can each take advantage of this strategy and contribute up to $300,000 each.
Should you require any further information in regards to this Scheme please feel free to contact Peter Quinn by submitting an online enquiry or calling us on +61 2 9580 9166 to book an obligation free appointment.
The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.