If you’re considering downsizing from your large family home in search of a more suitably sized option, new changes just announced in the Federal Budget could mean a generous boost to your superannuation.
Although the scheme for downsizers has already been in place since 2018, Treasurer Josh Frydenberg has announced the minimum age will be lowered from 65 to 60 meaning more retirees can access the benefit.
The changes will allow those aged 60 and over to contribute up to $300,000 to their superannuation when they sell the family home. The figure doubles for couples – up to $600,000.
In place from 1 July 2022, the change will make it easier for Australians to prepare for retirement and to be more secure once in retirement.
For retirees interested in accessing the superannuation boost before 1 July 2022, the scheme is still available now for those aged over 65.
With no compromise on superior quality, Samford Grove sets a new standard of luxury retirement living. Our apartments and homes offer everything the modern downsizer needs.
At Samford Grove, choose between established homes, brand-new villas, townhomes or apartments – there’s something to suit every lifestyle.
To find out how you can downsize to Samford Grove, call us on 07 3289 3372 or fill in this contact form.