Downsizing self storage solutions
In the recent Federal Budget, older Australians who are planning to downsize from a larger home were given a welcome tax break.
New rules allow people over the age of 65 to make a non-concessional contribution of up to $300,000 to their superannuation from the sale of their main home.
Both members of a couple are eligible to make the same level of contribution, equalling a combined amount of $600,000.
With many older and retired Australians looking to downsize from their large family homes into a more appropriate option, this new rule will allow them to make the most of the profits from the sale of those larger homes.
That’s the good news. But for some, the thought of downsizing can be a daunting one. Let’s take a look at how simple it can be with our top tips.
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