WebSep 28, 2024 · The client(s) making a downsizer contribution must be at least age 65 when the contribution is made; The contribution must be made within 90 days of … WebA Bill introduced into Parliament last week will reduce the eligible age for making a downsizer contribution to superannuation from 60 years to 55, likely to take affect from 1 October 2024. This is a rapid change on the heels of the age threshold already having been reduced from 65 years to 60 just last month, from 1 July 2024. Background
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WebPrior to 1 January 2024, you had to be 60 years or older to make a downsizer contribution. A downsizer contribution doesn’t count towards any of the contribution caps – and can still be made even if a person has … WebNov 7, 2024 · The downsizer contribution allows eligible Australians age 60 or older to sell their home and contribute up to $300,000 for an individual or $600,000 for couples. Benefits Boosts your... cheap travel microfiber towel
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WebJan 31, 2024 · The bill sitting in Parliament to reduce the downsizer contribution age to 60 also removes the work test for after-tax contributions for people aged 67 to 74 from July … WebWhat are the downsizer contribution rules from 1 July 2024? • 60 years or older (currently 65) at the time the downsizer contribution is made. There is no maximum age limit. • Up to a maximum of $300,000 contribution per person. The contribution cannot exceed the sale proceeds. Challenger Tech For adviser use only March 2024 From 1 July ... WebNov 7, 2024 · The downsizer contribution allows eligible Australians age 60 or older to sell their home and contribute up to $300,000 for an individual or $600,000 for couples. … cycle city of newnan inc