selling the family home

Your home is likely to be one of your most valuable assets, and while moving on can be a lot of work, there can be opportunities to grow your super.

Downsizer super contributions 

Selling our home often means taking the next step on the property ladder. But it can also be a chance to downsize rather than upsize.  

If you are aged 65-plus, and meet various eligibility requirements such as having lived in your current home for at least 10 years, by selling up and scaling down to something more manageable, you may be able to use the proceeds from the sale of your home to make a downsizer super contribution.  

The downsizer super contribution is limited to $300,000. But if you own your place as part of a couple, you could each make a $300,000 non-concessional (after tax ) contribution, meaning you could boost your combined super savings by up to $600,000. 

It can be worth speaking to an Active Super financial adviser before making a downsizer contribution as it could impact your ability to claim the age pension.  

You don’t have to downsize to grow your super 

If you’re younger than age 65, you can still choose to make a non-concessional (after tax) contribution to super using money from any profit on the sale of your home. Again, this is an area where it can be worth seeking expert financial advice. 


Let Active Super know your new address 

If you do move, be sure to let Active Super know your new address. There is a $13.8 billion1 pool of unclaimed super in Australia, and one of the chief reasons people lose touch with their super is because they don’t keep their super fund informed when they move. And no matter where you’re heading, it’s important to stay connected with your super at every life stage.