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READ MOREAge for downsizer super scheme to drop to 55
Anyone over 55 will be able to make downsizer super contributions if tax amendments introduced to Parliament last week are passed and the revised rule could apply as soon as October, according to one superannuation specialist.
The reduced age limit, proposed by the Coalition during the election, will widen eligibility for the scheme by a decade in a matter of months, with a reduction to 60 only in place from July.
“This will allow more Australians to make a one-off post-tax contribution of up to $300,000 per person when they sell their family home,” Assistant Treasurer Stephen Jones said last week.
Read more at Accountants Daily
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