Understanding home downsizing and super contributions
The Federal Government announced in the May Budget that it is widening the scope of the scheme allowing eligible Australians to sell their home and put extra money into their superannuation. Here's what you need to know.
Here's what you need to know
Be mindful of the pension assets test
The current assets test limits are shown in the table below.
|Full Age Pension||Homeowner||Non Homeowner|
|Part Age Pension||Homeowner||Non Homeowner|
Source: Department of Human Services, limits effective 20 March 2021
By Tony Kaye
Senior Personal Finance Writer, Vanguard Australia
25 May, 2021