Downsizers Beware

Downsizers Beware

There’s a lot of Downsizing information being distributed at the moment. I am concerned as a major eligibility requirement is often being ignored or incorrectly stated.

Not only does the ability to make downsizing contributions commence after 30 June 2018, the contract of sale for the property must be after that date as well. If the sale contract is dated before 1 July 2018 the proceeds are not eligible.