Superannuation Discussion + market volatility

[SYD]

Ok. What defines a downsize contribution then because you can just put money in as well.

Downsizer super contributions | Australian Taxation Office

Check if and how you can contribute money from the sale of your home into your super fund via a downsizing contribution.

www.ato.gov.au

Once off $300k that doesn’t count towards your TBC (which also means someone over their TBC can still top up!).

 

[Pushka]

Downsizer super contributions | Australian Taxation Office

Check if and how you can contribute money from the sale of your home into your super fund via a downsizing contribution.

www.ato.gov.au

Once off $300k that doesn’t count towards your TBC (which also means someone over their TBC can still top up!).

Thanks. I didn't complete a downsized form so guess it is just a contribution.

 

[SYD]

Thanks. I didn't complete a downsized form so guess it is just a contribution.

But you probably used “Bring forward” arrangement?

 

[Brissy1]

Downsizer super contributions | Australian Taxation Office

Check if and how you can contribute money from the sale of your home into your super fund via a downsizing contribution.

www.ato.gov.au

Once off $300k that doesn’t count towards your TBC (which also means someone over their TBC can still top up!).

From that ato link... "However, downsizer contributions count towards your transfer balance cap."
?

 

[SYD]

From that ato link... "However, downsizer contributions count towards your transfer balance cap."
?

“but it doesn’t count towards the contribution cap.”

I was probably using TBC interchangeably….

 

[RAM]

Picking the 55yr age is disingenuous. The better number is preservation age. 55-67 is the age when most people can max their super contributions - mortgage free, no school fees etc etc.

The difference is the retired (ie the ones who have reached preservation age) cannot add/rebuild their super through SG, salary sacrifice, or through other income and compound interest (as they are drawing down their super)

No ulterior motive in picking 55 - that's the age that a number of funds will down rate the investment option for people who have not directed otherwise.

So, the points you make are even more reason why the degree of growth assets in the mix should NOT be decreased.

 

[Gremlin]

Ok. What defines a downsize contribution then because you can just put money in as well.

If you (inadvertently) didn’t do a downsized contribution first time round, then you obviously can do it again. But it’s likely to be a decent wait to meet the criteria a second time around. 10+ years held, CGT exempt (ie PPOR)