‘Free kick’ for retirees
One of the more positive superannuation rule changes introduced in recent years allows older Australians to make a non-concessional downsizer contribution of up to $300,00 each, or $600,000 as a couple, from the proceeds of selling the family home. In today’s difficult investment environment, releasing equity built up in the home to boost retirement savings may be a worthwhile strategy for some people.
The downsizer contribution was introduced in July 2018 as a means of reducing pressure on housing affordability. The measure is intended to encourage retirees to downsize from homes that no longer meet their needs and
