WebJul 1, 2024 · Downsizer contribution Form 75073 is submitted to your super fund on or before the time of contribution. * There is a Tax Office discretion to allow an extension of time for downsizer conributions. It … WebMar 3, 2024 · Downsizing your property for freedom in retirement - Vicki's story. 3 March 2024. In 2024, AustralianSuper member Vicki decided to downsize her family home to …
Downsizer contributions –– the basics and some key tips and traps
WebJul 4, 2024 · If eligible, you can make a downsizer contribution up to a maximum of $300,000 (each). The contribution amount can't be greater than the total proceeds of the sale of your home. The downsizer contribution would form part of the member's tax free component held in the fund. (my emphasis) WebApr 10, 2024 · The total amount of downsizer contributions you (each individual) can make is your share of the total proceeds received from the sale of your home up to a maximum of $300,000 each (so $600,000 in total for a couple). If the amount exceeds $300,000, the excess above $300,000 will be treated as a personal contribution. Josephine\u0027s-lily ix
Downsizing contributions ATO Community
WebMar 10, 2024 · Downsizer contribution is an initiative that allows each individual to contribute $300,000 to their superannuation account, if it comes from the proceeds of a … WebJul 1, 2024 · Instructions. If you make multiple downsizer contributions or contributions to different super funds, you must provide a form for each contribution. You must … Downsizing contributions into superannuation. If you have reached the … WebJul 28, 2024 · The most common reasons for downsizing, Market Business News says, include: A merger A sale or change in management An acquisition An external economic crisis, such as a recession An internal... Josephine\u0027s-lily iy