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.
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Article Source : Click Here Nerida Conisbee – Chief Economist In property markets, price pressure usually flows like water – when buyers can’t afford their preferred suburb, they move to the next-best alternative nearby. This “spillover effect” drives faster price growth in adjacent, cheaper areas as displaced demand seeks similar … Read more