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Boost your super and unlock the equity in your home

Retirement  |  3/07/2020  |   5 min read

*Federal Budget update: The minimum age for the Downsizer Contribution Scheme will be lowered from 65 to 60 years from 1 July 2022.*

Thinking of making that sea change or downsizing the family home? The Downsizer Contribution scheme can help you unlock the equity in your home while boosting your superannuation.

If you’re 60 or older and you sell your family home, you can contribute up to $300,000 (per person) towards your superannuation. This applies even if your super balance exceeds the A$1.6 million cap.

The program is primarily aimed at self-funded retirees and designed to help them downsize while also freeing up the equity in their homes.

How it works

The downsizer contribution changes are intended for the family home, which means you must have owned the property for at least 10 years and used it as your primary place of residence. 
More specifically, you'll need to adhere to the following rules:

  • Be aged 60 or over
  • The maximum contribution per person is $300,000
  • If you’re a couple selling your property, both of you can contribute into your super, up to a combined maximum of $600,000 
  • You must notify your super fund trustee in advance if you’re making a downsizer contribution so that it is entered as exempt from the non-concessional contributions cap
  • You cannot claim a personal tax deduction for a downsizer contribution
  • If the property sells for less than $300,000 you can only contribute up to the property’s value, i.e.  $250,000 if that’s what the property sold for
  • You must make your downsizer contribution within 90 days of receiving the proceeds of the sale.  

Speak to a financial planner

The Downsizer Contribution scheme is a way to top up your super even if you are unable to contribute to superannuation due to your age, work status or the amount you have in super.

That being said, it can impact your eligibility for the government Age pension, and other benefits, so it’s important to speak with a financial planner and have a thorough understanding of the costs and benefits, and how it may impact your financial position.


If you’re ready to speak with a planner you can make a booking online or call us directly on 1800 065 753.


This information is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Togethr Trustees Pty Ltd ABN 64 006 964 049, AFSL 246383 ("Togethr") is the trustee of the Equipsuper Superannuation Fund ABN 33 813 823 017 ("Equip" or "The Fund"). Past performance is not an indication of future performance.

Togethr Financial Planning Pty Ltd (“TFP”) (ABN 84 124 491 078, AFSL 455010), trading as Equip Financial Planning, is licensed to provide financial planning services to retail and wholesale clients. TFP is owned by Togethr Holdings Pty Ltd (ABN 11 604 515 791). You can obtain the TFP Financial Services Guide and/or Privacy Statement by contacting our Helpline on 1800 682 626. This is general information only and does not take into account your personal objectives, financial situation or needs and therefore should not be taken as personal advice.

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