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Re: I am 65 years of age as of 26 Jan. 2021, I sold my and put $300K super as downsizing.

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I am 65yrs old, on 26 Jan 2021 I sold my apt and put $300K in my super using downsizing rule.  My freind told me you need to be 67 and over to use downsizing rule. Ive read ATO rules on eligibility and believe I can contribute  at age 65 under downsizing . Please confirm if Im correct .

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Devotee Registered Tax Practitioner

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I am 65yrs old, on 26 Jan 2021 I sold my apt and put $300K in my super using downsizing rule.  My freind told me you need to be 67 and over to use downsizing rule. Ive read ATO rules on eligibility and believe I can contribute  at age 65 under downsizing . Please confirm if Im correct .

 

Your friend is getting mixed up with the work test  -  age for downsizer  =  65.

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Most helpful response

Devotee Registered Tax Practitioner

Replies 0

I am 65yrs old, on 26 Jan 2021 I sold my apt and put $300K in my super using downsizing rule.  My freind told me you need to be 67 and over to use downsizing rule. Ive read ATO rules on eligibility and believe I can contribute  at age 65 under downsizing . Please confirm if Im correct .

 

Your friend is getting mixed up with the work test  -  age for downsizer  =  65.