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Downsized contribution into super Complete this form to make a downsized contribution by check following the sale of your home. RED SECTIONS FOR YOUR INFORMATIONGREY SECTIONS TO FILL Before you start Read

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How to fill out downsizer contribution

01

To fill out a downsizer contribution, you will need to follow these steps:

02

Determine your eligibility: Downsizer contributions are available to individuals who are 65 years old or older and have owned their home for at least 10 years.

03

Check the contribution limit: The maximum downsizer contribution allowed is $300,000 per person. Make sure you do not exceed this limit.

04

Sell your home: You need to sell your home and settle the sale before making a downsizer contribution.

05

Notify your superannuation fund: Inform your super fund that you intend to make a downsizer contribution. They will provide you with the necessary forms and instructions.

06

Fill out the forms: Complete the downsizer contribution form provided by your super fund. Provide all the required information and sign the form.

07

Submit the forms: Submit the completed downsizer contribution form to your super fund. Make sure to keep a copy of the form for your records.

08

Receive confirmation: Once your super fund processes the downsizer contribution, they will notify you and update your super balance accordingly.

Who needs downsizer contribution?

01

Downsizer contribution is beneficial for individuals who meet the following criteria:

02

- Individuals who are 65 years old or older

03

- Individuals who have owned their home for at least 10 years

04

- Individuals who are looking to downsize their home and want to boost their retirement savings

05

It is important to consult with a financial advisor or tax professional to determine if downsizer contribution is the right option for you based on your specific financial situation.

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What is downsizer contribution?

A downsizer contribution allows individuals aged 65 and older to contribute up to $300,000 from the sale of their primary residence into their superannuation, regardless of their contribution caps.

Who is required to file downsizer contribution?

Individuals aged 65 or older who sell their primary residence and wish to make a downsizer contribution to their superannuation fund are required to file.

How to fill out downsizer contribution?

To fill out a downsizer contribution, you need to complete the Downsizer Contribution Form which includes details about your personal identification, the sale of the property, and your superannuation fund information.

What is the purpose of downsizer contribution?

The purpose of the downsizer contribution is to provide older Australians with a way to boost their retirement savings by allowing them to contribute proceeds from the sale of their family home.

What information must be reported on downsizer contribution?

The information that must be reported includes the sale price of the home, the date of sale, personal details of the seller, and the superannuation fund details where the contribution will be made.

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