Summary: Recent legislation gives older Australians the opportunity to contribute up to $300,000 each to superannuation if they sell their homes. This sounds like a great way to increase your super and free up some capital for a more comfortable retirement, but do the benefits really stack up? ----more---- In Should you consider the new Downsizing Contribution to Super?, Vishal Teckchandani interviews Gemma Dale, nab’s Director, SMSF and Investor Behaviour, about this new strategy and whether it offers an opportunity for you. This conversation covers: the new rules and how you need to meet them the impact of the downsizer contribution on your Age Pension whether the tax savings of super are likely to be beneficial for you, and some scenarios where using the contribution might help – or harm – your situation. The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.
