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Contributing the proceeds of downsizing to superannuation

Contribution is not a downsizer contribution

Section: 22.6

If a contribution is found not to be a downsizer contribution, the Commissioner would write to the individual and ask for any further evidence.

If the contribution is still determined to be invalid, the super fund will be notified and will assess whether the contribution could have normally been accepted, i.e. as a non-concessional contribution, and would re-report as such.

Otherwise, the contribution will need to be returned as per the existing regulation for returning contributions to members that are inconsistent with the contribution acceptance standards.

Last modified: Wednesday, May 1, 2019