Are you planning to downsize your home – and nearly 60?

If so, you may wish to hold off until April 2022 – so you can benefit from the changes to the downsizer superannuation contribition rules which take effect on July 1st!

Currently if you downsize your home and you are over age 65, then you (and your spouse) can each contribute $290,000 from the proceeds into your superannuation account(s) – without any issue around breaching contribution caps, or attracting penalties. This has to be done within 90 days of the settlement date however.

From July 1 2022, the minimum age whereby you qualify to do this will reduce from 65 to 60.

So this means that if you are between 60 and 65, you could downsize your home by selling (and settling) a sale of your home anytime after 2 April, and be eligible to contribute up to $300,000 per person into your respective superfunds from 1 July!

This is a very useful strategy for people wanting to contribute to their superfunds, but maybe have hit or exceeded their contribution caps.

To find out more, get in touch with our specialist advisory team at 08 8231 4709 or

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Zac Zacharia (Managing Director) has been assisting clients to create wealth and secure their futures for over 14 years.

He is also an accomplished presenter and educator

Co-authoring the popular investment book, Property vs Shares.