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  • Downsizer contributions age changes from 1 July 2022

    From 1 July 2022, people aged 60 years and over will be eligible to make downsizer contributions of up to $300,000 per person ($600,000 per couple) from the sale proceeds of their home into their super.

    Eligible downsizer contributions won’t impact or count towards the member’s concessional or non-concessional super contribution caps.

    Remember, you must receive the downsizer contribution form from your members either before they make their downsizer contribution, or when they make their downsizer contribution.

    What you need to do

    During the 2022 Federal election the Government announced it would support a further reduction to the downsizer eligibility age to 55 years. This is not yet law. We understand that this may have caused some confusion for you and your members.

    We recommend funds advise members:

    • any contributions made to you from members who are 55 to 59 years old will be ineligible for treatment as downsizer contributions
    • these contributions (if you can otherwise accept them) will need to be reported as personal contributions, which may result in members exceeding their non-concessional contributions cap.

    If you have further enquiries, lodge a request using the Super Enquiry Service.

    See also

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      Last modified: 28 Jun 2022QC 69942