Making downsizer contributions to upsize your super

2 days ago · How much can I make in downsizer contributions? As an individual, you can make a downsizer contribution of up to $300,000. As a couple, you and your spouse can each contribute up to $300,000 ($600,000 combined). Both of you would need to separately make an …

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Making Downsizer Contributions To Upsize Your Super

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rest.com.au

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Super Strategies - MLC

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Super strategies | 1 Super strategies Upsize your super with downsizer contributions If you’re aged 55 or over, you may be eligible to make additional super contributions of up to $300,000 …

mlc.com.au

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Downsize Your Home To Upsize Your Super - ESSSuper

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Very few other restrictions apply. The downsizer contribution cap of $300,000 per individual is not restricted by the Non-concessional contribution cap, the Total Super Balance or the need to …

esssuper.com.au

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The Pros And Cons - Downsizer Contributions - HLB Mann Judd

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Aug 12, 2024 · Unlike other contributions, it doesn’t matter if you are retired or whether your super balance is above $1.9 million, to be able to make downsizer contributions. This may be the last …

hlb.com.au

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Upsize Your Super! Thinking Of Downsizing Your Home?

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This means you can make a downsizer contribution even if your total super balance (across all super funds you participate in) is over $1.9 million. • There’s no maximum age limit to …

caresuper.com.au

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More Women Using ‘downsizer’ Contributions To Boost Super

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Oct 31, 2024 · In 2023-24, over 57% of people making a ‘downsizer’ contribution to super were women. And, the average value of the contribution was marginally higher at $262,000 versus …

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How To Boost Super By $300,000 Even If You Have Over $1.9m

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Feb 4, 2024 · If the amount you withdraw from your SMSF and the amount you make as a downsizer contribution still results in your net total super being greater than $3 million, you …

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FAQs about Making downsizer contributions to upsize your super Coupon?

How much can a Downsizer contribute to a superannuation fund?

About downsizer contributions If you are 55 or older, you may be able to contribute up to $300,000 from the proceeds of the sale (or part sale) of your home into your superannuation fund. A downsizer contribution is a non-concessional contribution, but it doesn’t count towards the contribution cap. ...

How do I make a Downsizer contribution to Super?

The downsizer contribution to super needs to be made using the proceeds from the sale of your home, where the contract for the sale of the home was entered into after 1 July 2018. There is no requirement to have bought a new home. ...

Do Downsizer contributions count towards a Super contribution cap?

Downsizer contributions don't count towards your concessional or non-concessional contribution caps. However, they are limited by what you make on the sale of your home and are subject to a cap of $300,000 per person. Downsizer contributions can be made regardless of how much money you already have inside super. 3. ...

What if I make multiple Downsizer contributions?

If you make multiple downsizer contributions or contribute the money to different super funds, you must provide a completed form for each contribution. The form allows your super fund to confirm on behalf of the ATO that you have met all the eligibility requirements for making a downsizer contribution. ...

Can I make a Downsizer superannuation contribution if I'm 55?

If you’re 55 or over, you may be able to make a downsizer superannuation contribution to boost your retirement savings by up to $300,000. Unlike other types of super contributions, there’s no maximum age limit, requirement to meet a work test, or total super balance limit, which makes the downsizer scheme attractive. ...

What is a Downsizer contribution?

Downsizer contributions are an opportunity that exists for you to get a huge amount into super, just when you thought it was too late. So, what’s so good about a downsizer contribution? Well, you can contribute up to $600,000 into super and use this amount to start a tax-free income stream. ...