What is the Downsizer Super Contribution Scheme?
The Australian Government's Downsizer Contribution Scheme allows eligible Australians to contribute proceeds from the sale of their home directly into superannuation, helping boost retirement savings.
Key Things to Know
Australians aged 55 and over may be eligible to make a downsizer contribution.
Eligible individuals can contribute up to $300,000 from the sale of their home into superannuation. Couples may contribute up to $600,000 combined.
The home must generally have been owned for at least 10 years and qualify as your principal residence.
Downsizer contributions do not count towards normal concessional or non-concessional contribution caps.
Contributions must usually be made within 90 days of settlement.
The scheme can help retirees grow their super balance and generate additional income throughout retirement.
How This Applies to Solana Lifestyle Resorts
Many Solana homeowners choose to downsize from a larger family home into a lower-maintenance lifestyle home. By doing so, they may:
Release equity from their existing property.
Contribute some of those proceeds to superannuation through the Downsizer Scheme.
Strengthen their retirement savings.
Potentially improve long-term financial security while enjoying a resort-style lifestyle.
As eligibility requirements apply, we recommend seeking independent financial advice and reviewing the latest information from the Australian Taxation Office.
Disclaimer: Information is general in nature and does not constitute financial advice. Eligibility for government benefits and superannuation schemes depends on your personal circumstances.
