If you are aged 55 years or older, the "downsizer contribution" rules enable you to place up to $300,000 from the proceeds of the sale of your home into your superannuation fund (eligibility criteria applies), and recent statistics show that women are leading the way.

In 2023-24, over 57% of people making a ‘downsizer’ contribution to super were women, and the average value of the contribution was marginally higher at $262,000 (compared to $259,000 contributed by men).

The most likely age someone makes a downsizer contribution is between 65 and 69. From age 65, a downsizer contribution can be withdrawn from super if your circumstances change, even if you are still working. Those aged 55 to 64 generally won’t have access to these funds until they are at least 60 and retired.

Downsizer contributions are excluded from the existing upper age test, work test, and the total super balance rules (but the amount that can be moved to a retirement pension is limited by your transfer balance cap).

An advantage of downsizer contributions is that they don't against your other non-concessional contributions – so if you've already reached your contributions cap for the year, you can still contribute up to $300,000 per person.

Pat Kelly, Financial Adviser

For couples, both partners can take advantage of the concession for the same home. That is, if you or your spouse meet the other criteria, both of you can contribute up to $300,000 ($600,000 per couple). This is the case even if one of you did not have an ownership interest in the property that was sold (assuming they meet the other criteria).

To be eligible to make a downsizer contribution you do not have to buy another home once you have sold your existing home, and you are not required to buy a smaller home – you could buy a larger and more expensive one and make a downsizer contribution if you have access to other funds.

Check out our related article here to find our more about downsizer contributions rules and eligibility.

If you're thinking of selling your home and investing some of the proceeds into your superannuation, you need to chat with one of our Financial Advisers first. We can help you determine if a downsizer contribution approach is right for your personal circumstances.

This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

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