The information about super has been prepared without taking into account any particular person’s objectives, financial situation or needs. Before deciding to make a contribution to your super, interested persons should consider the appropriateness of this information having regard to their personal objectives, financial situations or needs.
1 The maximum Downsizer contribution that an individual can make is the lesser of:
- $300,000 or
- Proceeds received on the sale of one eligible property.
Where members of a couple wish to make Downsizer contributions in respect of the same dwelling, the total Downsizer contributions made in respect of the same eligible property must not in total exceed the lesser of $600,000 or the total sale proceeds.
Any advice and information in this publication is of a general nature only. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of an individual’s liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent.
2 Includes Medicare Levy
3 Total super balance includes super savings in accumulation accounts and income streams. This threshold is current for the 2018/19 financial year. Refer to ato.gov.au for more information.
* Past performance is no guarantee of future performance