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Downsizer contribution measure eligibility has been extended.
The downsizer contribution concession was introduced to allow older Australians selling an eligible dwelling to make additional contributions into their superannuation fund.
Further eligibility age change for downsizer contributions.
Individuals over the age of 55 will now be able to make downsizer contributions now that the Treasury Laws Amendments (2022 Measures No. 2) Bill 2022 received royal assent on 12 December 2022.
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. For downsizer contributions made prior to 1 July 2022, eligible individuals must have been aged 65 years or older at the time of making their contribution.