April 12, 2022

Luke on 2CC – Downsizer legislation – The rules are changing!

17 minutes

Are you thinking about downsizing your home to boost your super – the rules are about to change.

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 8 April 2022. They start the show this week about talking about the value of advice – and how one of Luke’s clients had tears of joy this week about being able to retire 5 years earlier than they thought they could. This weeks topic looks at the changes to the downsizer legislation. These rules help retirees put more money into their super than they normally can by downsizing their home in retirement.

Key topics covered include:

What is the downsizer legislation?

What amount can you add to your super?

The change: you now can be 60 years of age to sell your home (from 1st July 2022) , not 65 to take advantage of the legislation

There are other rules you must consider when using this legislation to boost your super

What about the transfer balance cap?

Do other superannuation caps apply?

Remember, money out of a pension is tax free once you’re aged 60 over

Luke shares his top tips when thinking about downsizer legislation

Seek advice to be more confident in your investment, super and retirement outcomes.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2022/04/The-Strategy-Stacker-Luke-Talks-Money-08042022.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Do you need financial planning advice about super and retirement?

From 1 July 2022 people aged 60 and over can boost their super with these rules, by downsizing their home. Seek financial advice if you need help to make the most of this opportunity.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, and retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.

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By Luke Smith