Hello All,
I'm in the final stages of selling my investment property (fingers crossed - settlement is early Dec) and have calculated the Capital Gains Tax to be ~$70,000. My property has been rented out continuously since 2008 (I lived in it as my primary residence from 2001 - 2008).
I have a low income health care concession card (no other Centrelink benefits) having had a significant medical event in early 2020, so since then I have not been working in any capacity. I utilise my rental income for my daily living expenses so would be in the lower marginal tax bracket and make a $1000 contribution to my superannuation fund each year. My rental income is ~22k per annum.
Can I offset my CGT by transferring $70,000 into my superannuation account? I understand its from when I signed the contract of sale at the start of October 2025 and needs to be paid in the new financial year July 2026.
I'm also not sure about how concessional contribution caps work as well but that my be a question I need to ask my superannuation fund :)
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