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Contributing the proceeds of downsizing to superannuation

Eligibility requirements

Section: 22.2

For a contribution to be a downsizer contribution in respect of an individual, the following conditions must be satisfied:

  • The individual must be aged 65 years or older at the time the contribution is made
  • The contribution must be in respect of the proceeds of the sale of a qualifying dwelling in Australia
  • The 10-year ownership condition is met
  • Any gain or loss on the disposal of the dwelling must have qualified (or would have qualified) for the main residence CGT exemption in whole or part
  • The contribution must be made within 90 days of the disposal of the dwelling, or such longer time as allowed by the Commissioner
  • The individual must choose to treat the contribution as a downsizer contribution, and notify their superannuation provider in the approved form of this choice at the time the contribution is made
  • The individual cannot have had downsizer contributions in relation to an earlier disposal of a main residence

Last modified: Wednesday, May 1, 2019