Webheralds a positive legislative change. Future financial years could bring about more opportunities to contribute up to $1.26 million in one hit for eligible members of a couple – for example, $330,000 each as a NCC and $300,000 each as a downsizer contribution. What are the downsizer contribution rules from 1 July 2024? WebDec 16, 2024 · Downsizer Superannuation Contribution rule changes from 1 January 2024 From 1 January 2024, the eligibility age for downsizer contributions will reduce from age 60 (current rules) to age 55. All …

Downsize your home and boost your retirement savings - GESB

WebDec 8, 2024 · The Coalition has announced further changes to downsizer contributions, with the federal election now only days away. In an election campaign speech on Sunday (15 May), Scott Morrison announced plans to reduce the eligibility age for downsizer contributions to age 55 from 1 July 2024, if elected this weekend. WebMar 30, 2024 · Downsizer contributions are not counted against the person’s non-concessional contribution cap and are not subject to any maximum age limits. Until 1 July 2024 the legislation requires a person to be at least 65 years old to qualify for the downsizer contribution. However, the earliest qualifying age for the downsizer contribution has … hp ink 301 combo

Further eligibility age change for downsizer contributions

WebDownsizer contributions aren’t tax deductible. The contributions must be made within 90 days of settling on the property sale. The money will count towards your transfer balance … WebAs the downsizer contribution is a new type of contribution, the SMSF’s deed should have express wording that allows members to make these contributions to the fund, … WebDownsizer contributions for individuals. Check your eligibility to make a downsizer contribution, how much you can contribute and how to make a contribution. Overview … hp ink 64xl black and color combo pack