Downsizer Contributions Explained: Turning Your Family Home Into Retirement Income
For many Canberrans approaching retirement, the family home is their biggest asset — and often larger than they need. If you’re considering selling and downsizing, the Downsizer Contribution could help you boost your super and create additional income for retirement.
What is a Downsizer Contribution?
If you’re aged 55 or over, you may be able to contribute up to $300,000 per person (or $600,000 per couple) from the sale of your home directly into your super — without counting toward your usual contribution caps.
Key eligibility rules
You must have owned the home for at least 10 years and be 55 or older.
The home must have been your main residence.
The sale must be exempt from full or partial capital gains tax.
You must make the contribution within 90 days of settlement.
The home must be in Australia and not be a caravan, houseboat, or other mobile home.
You cannot have made a previous downsizer contribution.
The benefits
Boost your super balance even if you’re no longer working.
Potentially access tax-free income in retirement.
Potentially Improve Age Pension outcomes with the right structuring.
Why local advice matters
The Canberra property market has unique dynamics — higher median house prices, tax considerations, and strong demand from downsizers. Personalised advice ensures your downsizer strategy fits your overall retirement plan, including timing, tax implications, and income goals.
At Access Wealth Group, we help retirees across Canberra transition to retirement confidently — from family home to retirement income.
Talk to a us about whether the downsizer contribution is right for you.
This article is of a general nature only and does not take into account your individual financial circumstances, objectives, or needs. It does not constitute personal financial advice. You should not act on any of the information provided without first seeking professional financial advice that considers your personal situation.