59 and just retired.

 Author: QSuper(Devotee)Devotee

23 Aug 2021

Hi @Donendusted,

You are correct that the current Downsizer contribution eligibility requires an individual to be aged 65 years or older.

While you are not currently able to utilise the Downsizer contribution scheme, you may be interested to know you may still eligible to use the non-concessional bring-forward rule.

As you may be aware, the non-concessional (after-tax) cap for the current 2021-22 financial year is $110,000.

Provided youre your total superannuation balance is below $1.48 Million, as you are under 67, you have the option to bring forward two years of non-concessional contributions. This means you can contribute three times the non-concessional cap (i.e. $330,000) at one time. The trade-off is you wont be able to make any more non-concessional contributions for the next three years without breaching the cap.

You can find out more on the ATOs Contribution caps page, or QSupers Super contribution caps page.

Hope this helps,

Mark