Have you heard about the superannuation changes for downsizers?
The Australian Government has introduced new measures that will allow people 65 or older to make a 'downsizer contribution' to their superannuation of up to $300,000 from the sale of their home. The changes will come into effect from 1 July, 2018.
These new rules are designed to encourage older Australians to downsize and free up housing stock for younger buyers, in an attempt to reduce pressure on housing affordability.
If you're thinking of downsizing, this is a great incentive to make the change. Talk to your financial advisor or contact a superannuation expert for advice.
You can find out more about these new measures and more by visiting the ATO's website.
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Pauline Goodyer
I love this quote. It’s exactly how I feel about the work I do. For over 20 years my passion has been working in Sydney’s Eastern Suburbs property market. It’s a job I truly love. In a place I live and adore.