WebHow do I make a downsizer contribution? You should talk to your fund about how to make a downsizer contribution. If you don’t have a superannuation account, you may open a new account to make your contribution. Does this affect my Age Pension? Downsizer contributions are not exempt from the Age Pension means test. WebDec 9, 2024 · The beauty of making a downsizer contribution is that you do not have to satisfy the age criteria or work test. At present, if you’re aged 65 to 74, you can make voluntary contributions only if ...
Ensure you get it right when making downsizer contribution
WebJul 1, 2024 · To track the total downsizer contributions made by each member of the fund: From the Main Toolbar, go to Member. Select Contribution Dashboard from the list. Under the Contribution Caps section, you are able to view the downsizer contributions made to date for each member of the fund. This figure can be found under the Contribution Type ... WebA downsizer contribution cannot be claimed as a tax deduction. 2 The quote The downsizer contributions measure … will allow an individual aged 65 or over … to make ‘downsizer contributions’ of up to $300,000 (or $600,000 if a couple) into super. www.fsadvice.com.au famous nicaraguan pottery
Treasury Laws Amendment (Enhancing Superannuation Outcomes …
WebJul 27, 2024 · If the government’s proposed change to remove the work test for non-concessional super contributions is passed, non-concessional contributions of up to … WebNov 23, 2024 · Downsizer super contributions are one-off contributions people can make if they sell their home and meet a range of conditions … WebOct 27, 2024 · Schedule 3 — Reduced eligibility age for downsizer contributions Income Tax Assessment Act 1997. 1 Paragraph 292‑102(1)(a) Omit “65”, substitute “60”. 2 Application of amendment. The amendment made by item 1 applies in relation to contributions made on or after 1 July 2024. Schedule 4 — Work test reforms for … coppinger baseball tournament