Downsizer contribution

Age pension larger downsizing factor than downsizer super contribution

Potential downsizers are worried about the impact on their Age Pension, which may limit the take-up of the Government’s proposed downsizer contribution, according to new research. Legislation is currently before the Parliament to enact the ‘downsizer contribution’, which would allow some people aged 65 and older who downsize to contribute… Read More »Age pension larger downsizing factor than downsizer super contribution

LDP wants considerable boost to FHSSS and downsizer contribution

Liberal Democrat Senator David Leyonhjelm wants to considerably boost the proposed First Home Super Saver Scheme (FHSSS) and downsizer contribution. Update: The Leyonhjelm amendment has been revised – it not longer includes the changes to the cap, instead including a requirement that the Minister start an independent review of the changes… Read More »LDP wants considerable boost to FHSSS and downsizer contribution

Downsizing super exemption not enough without age pension exemption

A possible Budget measure to exempt the proceeds of downsizing homes from the superannuation contribution caps will not be effective without there also being an exemption from the age pension tests, says National Seniors Australia. The Government is reportedly considering allowing people who downsize their homes to contribute an amount to… Read More »Downsizing super exemption not enough without age pension exemption

Proceeds from downsized home may be exempted from super caps in Budget

The Government is reportedly considering allowing exemptions from contributions caps and the Transfer Balance Cap for people who downsize their home and contribute the proceeds to superannuation. This is the latest in a series of pre-budget reports. Most recently there were reports of different ways in which first home buyers… Read More »Proceeds from downsized home may be exempted from super caps in Budget