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Downsizing contributions


The legislation to allow older Australians to contribute proceeds from the sale of their former residence to super has also received royal assent.

This measure is broadly applicable to those who contract to sell an eligible residence from 1 July 2018, and who can then contribute eligible sale proceeds if up to $300,000 each to super on or after age 65.


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COMPASS financial management (A.B.N. 43 235 905 061) is an authorised representative of Charter Financial Planning Ltd, Australian Financial Services Licensee

 

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