WebWhat are the downsizer contribution rules from 1 July 2024? • 60 years or older (currently 65) at the time the downsizer contribution is made. There is no maximum age limit. • Up to a maximum of $300,000 contribution per person. The contribution cannot exceed the sale proceeds. Challenger Tech For adviser use only March 2024 From 1 July ... WebThe eligible age to make a Downsizer Contribution is as follows: From 1 July 2024, 65 years old or older. From 1 July 2024, 60 years old or older. From 1 January 2024, 55 years old or older. If you have reached the eligible age and meet the other eligibility requirements, you may be able to choose to make a Downsizer Contribution into your ...
Downsizer contributions: Everything you need to know - Starts at 60
WebDec 16, 2024 · You have reached the eligible age at the time you make a downsizer contribution; 55 for contributions made from 1 January 2024; and; 60 for … WebThe contribution – which must be made within 90 days of change of legal ownership – is the lesser of the sale proceeds or $300,000 per person. So, a couple may be able to contribute up to $600,000. Whilst you may be eligible to make a downsizer contribution, there’s a lot to consider before jumping in. The appeal of a downsizer ... geforce rtx 3060 v2 oc
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WebJul 5, 2024 · From 1 July 2024, 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 … WebPrior to 1 January 2024, you had to be 60 years or older to make a downsizer contribution. A downsizer contribution doesn’t count towards any of the contribution caps – and can still be made even if a person has … WebFeb 1, 2024 · Are there age limits? You need to be 65 years or older to make a downsizer contribution, although from 1 July 2024 the eligibility age will fall to 60. There is no upper age limit to the scheme, fitting with the fact that it is never too late to enjoy the many benefits of downsizing. Is there a time limit for using the measure after selling ... geforce rtx 3060 tuf lhr o12g