The ATO has reported that around 123,000 individuals have made ‘downsizer super contributions’ since the scheme commenced in 2018, contributing more than $31 billion to super funds.

Broadly, where the various requirements are satisfied, eligible individuals aged 55 years or older can contribute up to $300,000 from the sale of their home into super.  Eligible couples may be able to contribute up to $600,000 combined.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With four offices across Western Australia and over 20 years of experience, Acclaim Accounting is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.