Overview
Downsizer contributions let you put up to $300,000 per person from the sale of your main residence into super, outside normal concessional and non-concessional caps. This life event helps you model the impact of contributing sale proceeds to super when downsizing.
Use this event to model:
Contributions from property owners
Splitting contributions across multiple super funds for the same person
Couples contributing up to $300,000 each from the same sale
The cashflow impact of moving sale proceeds into super
Downsizer contributions are non-concessional - there is no tax deduction. They do not count towards your concessional or non-concessional caps, but they do count towards your total super balance and transfer balance cap in retirement.
How to add this event
Step 1: Add a Sell Home event for your main residence in the year you plan to sell.
Step 2: Click "Add New Event" on the top right of the Planner.
Step 3: Filter or find the Downsizer Contribution event.
Step 4: Drag and drop the event onto the same year as your property sale.
Step 5: Configure the event (see options below).
What you’ll need to enter
Property sale event: Choose the property sale event from the same year that this contribution relates to. You must have a Sell Home (or Sell Apartment) event in that year first.
Contributions: Add one or more contributions. For each contribution:
Who’s contributing: The person making the contribution (owner or spouse).
Which fund it’s going to: A super fund owned by that person.
Contribution amount: Up to $300,000 per person, and no more than the total sale proceeds.
You can add multiple contributions (e.g. split across funds or for both partners).
Eligibility
To be eligible, you must meet all of the following:
Requirement | Owners |
Age 55+ | Must be 55 or older at the time of sale |
10-year ownership | Must have owned the property for at least 10 years |
Main residence | Property must be your main residence at the time of sale |
One-time only | You have not made a downsizer contribution before |
If you're not eligible to make a downsizer contribution you'll receive an alert and wont be able to add the event to your plan.
Important: Within Canwi - the contribution must be made in the same year as the sale. In real life, the ATO requires contributions within 90 days of receiving the sale proceeds (even if this 90 day period spans different years).
Contribution cap and sale proceeds
Per-person cap: Up to $300,000 per eligible person.
Couples: Each eligible person can contribute up to $300,000 from the same sale.
Sale proceeds: The total of all contributions cannot exceed the gross sale proceeds from the property sale.
About contribution types
Owners: If you own the property and meet the eligibility rules, you can contribute up to $300,000 to your own super fund(s).
Multiple funds: You can split your contribution across multiple super funds in the same year, as long as the total does not exceed $300,000 per person.
What we model
Cashflow: The contribution is treated as a cash outflow (money moving from sale proceeds into super).
Super balance: The contribution increases your super balance.
Caps: Downsizer contributions are outside concessional and non-concessional caps.
Tax: No tax deduction; contributions are non-concessional.
Important - real-world requirements
In practice, you must:
Lodge the form: Provide the ATO form "Downsizer contribution into super" (NAT 75073) to your super fund before or at the time of contribution.
ATO form: Downsizer contribution into super
Timing: Contribute within 90 days of receiving the sale proceeds (unless the ATO approves an extension).
One-time only: You can only make one downsizer contribution in your lifetime, even if you sell multiple homes later.