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SMSF Updates

Downsizer contributions

10 Jun, 2022

Subject to eligibility, an individual can make a Downsizer contribution of up to $300,000 from the proceeds on the sale of a qualifying home if the member is more than 60 years old.

Downsizer contributions have the following benefits:

  • Not a non-concessional contribution and will not count towards contribution caps
  • The work test does not need to be meet and no upper age limit
  • Can be made by a member when they exceed their TSB

 

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