The government encourages retirees to downsize by allowing you to sell your home and place the proceeds into your superannuation account. These are aptly named “Downsizing contributions into superannuation”. Now, they will charge you 30% on any investment earnings once your super balance eclipses the threshold.
Many Australian homes are very valuable, sufficient to tip over the threshold by itself. After saving for decades to buy it, the government wants to squeeze more from your well located properties in cities or our picturesque coastlines.
Why not give yourself more options?
Our Leg Up allows you to continue to live in your property, watch that property value grow tax free and earn extra income at the same time.