A reminder from our Real Estate agents Ray White Carnegie/Bentleigh.
From July 1 2018, individuals 65 years and over can contribute up to $300,000 to their superannuation from the proceeds of selling their family home. The home must have been the principal residence and owned for over ten years. If in a couple, both members will be able to take advantage of this, meaning a total of $600,000 can be contributed to superannuation, allowing some people to downsize into housing that is more suitable to their needs. This will assist people aged 65 and over currently unable to contribute any proceeds of the sale of their home into their superannuation because of the restrictions and caps that currently exist.
If you’re interested in downsizing from your large family into something better suited to your needs, contacted our elite team of real estate agents at Ray White Carnegie today to see how we can assist. You can reach us on 9571 6777 or at our office located at 276 Neerim Rd, Carnegie.
Article Source : Click Here The Reserve Bank of Australia has held the cash rate steady at 3.60 per cent today, adopting a cautious stance as mixed economic signals create uncertainty about the appropriate policy response. Nerida Conisbee – Chief Economist While the labour market shows signs of softening with … Read more
When it comes to property, we often think the big-ticket items make the biggest difference — a new kitchen, a bathroom renovation, or an extension. But sometimes, it’s the smaller decorating choices that have the most immediate impact on how a home feels. Home decorating isn’t just about style; it’s … Read more