Downsizer contributions

What is a downsizer contribution?

If you're considering selling your home, you may be able to contribute up to $300,000 of the proceeds to your super using a downsizer contribution.

Downsizer contributions at a glance

real_estate_agent

Contribute up to $300,000 ($600,000 as a couple) from the proceeds of the sale of your home to your super.

cake

You must be 55 or over to be eligible for a downsizer contribution.

house

You must have owned your house for 10 years or more.

calendar_month

You must make a downsizer contribution within 90 days of selling your house.

Conditions of downsizer contributions

Your eligibility

You're eligible to make a downsizer contribution to your super if:

You're age 55 or over
The money you're contributing is from the sale of your home
You have not previously made a downsizer contribution to super from the sale of another home
Your home has been owned by you and/or your spouse for 10 years or more. This is generally calculated from the date of settlement of purchase, to the date of settlement of sale
Your home is in Australia and is not a caravan, houseboat or other mobile home, and
Your home was at one time, the main residence for you and your spouse for tax purposes.*

You have 90 days to make a downsizer contribution

Your downsizer contribution needs to be in your Cbus super account within 90 days of settlement.
In some circumstances, you may be able to request a longer period to make your downsizer contribution. You can request an extention from the Australian Tax Office (ATO) before the 90-day period has expired. Learn more about downsizer contributions from the ATO.
Read more in the Downsizer contribution fact sheet (PDF).

*Your home is exempt or partially exempt from capital gains tax (CGT) under the main residence exemption or would be entitled to an exemption if the home was CGT rather than a pre-CGT asset (acquired before 20 September 1985). Learn more about captial gains tax from the ATO.

Examples of downsizer contributions

Here are some examples of different downsizer contributions. They are for illustrative purposes only.

Are you on track for a comfortable retirement?

Try our retirement income estimate calculator to see what your super balance might look like, and how small changes could give you more for when you put the tools down.

Estimate my retirement income

How to make a downsizer contribution

1. Complete the ATO’s 'Downsizer contribution into superannuation' form

Download and complete the ATO's Downsizer contribution into superannuation form. When completing the form, you'll need to include your Cbus Super member number.
If your spouse is also making a downsizer contribution, they'll need to have a separate super account and submit a separate 'Downsizer contribution into superannuation' form.

2. Submit your form to Cbus before or with your downsizer contribution

Your downsizer contribution needs to be in your Cbus super account within 90 days of settlement.

If we don't receive your form prior to, or when our make your downsizer contribution, your contribution will be treated as a personal contribution, which has its own set of rules and limits. In some cases, this means your contributions may be returned to you, or it might be taxed at a higher rate. See the Making extra contributions fact sheet (PDF).

Make your downsizer contribution in one of the following ways:

Electronic funds transfer

Send your completed 'Downsizer contributions into superannuation' form to: Cbus Super, Locked Bag 5056, Parramatta NSW 2124
Login to your Cbus account, go to 'Super' then 'Add to your super'
Scroll down to 'How to contribute' and 'Personal contributions' for the Cbus account details
From your personal financial institution, complete an electronic transfer for your downsizer contribution

BPAY®

Send your completed 'Downsizer contributions into superannuation' form to: Cbus Super, Locked Bag 5056, Parramatta NSW 2124
Login to your Cbus account, go to 'Super' then 'Add to your super'
Scroll down to 'How to contribute' and 'Downsizer contributions' to find your unique BPAY® Biller code and Biller reference
From your personal financial institution, complete a BPAY® transfer for your downsizer contribution

Direct Debit

Download and complete the Member direct debit request (PDF)
Send your completed 'Member direct debit request' AND 'Downsizer contributions into superannuation' forms to: Cbus Super, Locked Bag 5056, Parramatta NSW 2124

Cheque

Make a cheque out to Cbus Super Fund. Please include your full name and member number with the cheque
Send your cheque AND completed 'Downsizer contributions into superannuation' form to: Cbus Super, Locked Bag 5056, Parramatta NSW 2124

FAQs on downsizer contributions

Do I need to purchase another home after selling?

To make a downsizer contribution to your super, you only need to sell your home and meet the eligibility criteria (including having owned the property for 10 years or more). There’s no requirement to purchase another home.

Is there an upper age limit to make a downsizer contribution?

To make a downsizer contribution you need to be 55 years or older – there’s no upper age limit. So if you’re 90 and sell your home to move into residential care, you can still make a downsizer contribution, providing you meet the eligibility criteria.

Can I make multiple downsizer contributions?

You can make multiple downsizer contributions from the sale of your home, providing the total of all your contributions doesn’t exceed $300,000 or the total sale of your home (less any downsizer contributions your spouse has made). If you make multiple downsizer contributions or downsizer contributions to different super funds, you’ll need to provide a separate 'Downsizer contribution into super' form for each contribution.

Are downsizer contributions tax deductible?

Your downsizer contribution is not tax deductible and it may affect your Age Pension eligibility through the asset and income tests.

Is my downsizer contribution subject to contributions tax?

Downsizer contributions are not subject to contributions tax.

Does a downsizer contribution count towards any super contribution caps?

Your downsizer contribution doesn’t count toward your contributions caps and can be made even if your total super balance is greater than $1.9 million.

Will a downsizer contribution count towards my transfer balance cap?

Your downsizer contribution amount will count towards your total super balance when it is re-calculated at the end of the financial year.

Will my Age Pension asset and income tests be affected?

Your downsizer contribution will be included in the asset and income tests when determining your eligibility for the Age Pension.

Can I make a downsizer contribution into an income stream (pension) product?

A downsizer contribution can only be paid into a super account. If you’re no longer working and don’t have a Cbus super account, you can open a Cbus personal super account by joining Cbus online or calling us on 1300 361 784.

Can I withdraw my downsizer contribution?

You can access your super, including any downsizer contributions you've made, when you reach age 65 or if you're reached age 60 and retired, or when you meet another condition of release. Find out more about how to access your super.