Are you over 55 and looking to bolster your retirement savings? The Australian government's downsizer contribution scheme might be the golden ticket you've been searching for. In this comprehensive guide, we'll delve into the downsizer contribution scheme, eligibility requirements and how you can leverage this opportunity to secure your financial future. Plus, we'll explore why now is the perfect time to consider investing in a Cornus apartment in Glen Iris or Oakleigh.

Understanding Downsizer Contributions

Picture this, you're 55 or older and you've just sold your home. Did you know you can contribute up to $300,000, per person, from the proceeds of the sale into your superannuation fund? These downsizer contributions are non-concessional, meaning they won't count towards your contribution cap. Better yet, they offer a tax-efficient way to boost your retirement savings without affecting your total superannuation balance until the end of the financial year.

Eligibility Requirements

To qualify for downsizer contributions, you must meet several criteria:

• Age Eligibility: You must be 55 or older at the time of making the contribution.
• Property Ownership: The home must have been owned by you or your spouse for at least ten years.
• Property Type: Your home must be in Australia and not a mobile home.
• Capital Gains Tax (CGT): Proceeds from the sale must be exempt or partially exempt from CGT.
• Contribution Timing: Downsizer contributions must be made within 90 days of receiving the proceeds from the sale.

Maximising Benefits and Investing in Your Future

Now, let's talk about how you can make the most of this opportunity while also considering your future investment options. Investing in a Cornus apartment in Glen Iris, or Oakleigh could be the perfect complement to your downsizer contribution strategy. Here's why:

• Strategic Location: Cornus Developments offers prime locations with easy access to amenities, public transport and recreational facilities, ensuring a comfortable and convenient lifestyle.
• Quality Construction: Each Cornus apartment is meticulously designed and built to the highest standards, ensuring both comfort and durability for years to come.
• Community Atmosphere: Join a vibrant community of like-minded individuals and enjoy the benefits of shared spaces, events and activities tailored to your interests.

Making Your Contribution and Securing Your Future

Ready to take the next step towards a financially secure retirement? Here's how to get started:

• Consultation: Seek independent financial advice to understand the implications and benefits of downsizer contributions, as well as the potential investment opportunities with Cornus Developments.
• Super Fund Selection: Confirm with your super fund(s) that they accept downsizer contributions and submit the necessary paperwork.
• Investment Planning: Explore the range of Cornus apartments available in Glen Iris or Oakleigh and consider how they align with your lifestyle and retirement goals.
• Taking Action: Make your downsizer contribution within the specified timeframe and take proactive steps towards securing your financial future with an investment in a Cornus apartment.

The Victorian government's downsizer contribution scheme offers a unique opportunity for eligible individuals to boost their retirement savings while enjoying the benefits of downsizing. By understanding the eligibility criteria, maximising the benefits and considering strategic investments like Cornus apartments, you can take control of your financial future and enjoy a comfortable retirement lifestyle.

Don't miss out on this chance to maximise your superannuation benefits and invest in a brighter future with Cornus Developments. Contact us today to learn more about our available apartments and take the first step towards securing your dream retirement.

*Please refer to the Federal and State Government websites for further information. Terms and Conditions apply to any other promotions that may be contained within this communication. Please enquire within and check with the vendor and agent for further terms and conditions. Only one promotion can be used per purchase and can not be used in conjunction with any other promotions. The information contained herein is given for general information purposes only and it is subject to change. Readers, viewers and consumers are advised to perform their own research and investigations and obtain their own financial, legal and other advice. The information and materials do not form any representation by any vendors or agents of any vendors and may include third-party opinions that do not represent the opinion of any vendor or agent. They do not form part of any contract of sale and they do not constitute legal, financial, real estate or other advice and must not be regarded or relied upon as such. No warranty is given either expressly or implied and the vendors or agents do not assume liability for negligence or otherwise with respect to the contents herein. Any plans are yet to have had their structural and services review so are subject to change prior to completion of construction. All plans, dimensions, areas and particulars herein whether by measurements or visual representation are approximate only, for general information only, and do not constitute any representation by the vendor or its agents or representatives. They do not form part of any contract of sale. Changes will undoubtedly be made during development and dimensions, fittings, finishes and specifications are therefore subject to change. Any furniture, goods and chattels depicted in this document are not included with any sale. Prospective purchasers or lessees are advised to not to rely on the information contained herein and to satisfy themselves as to the accuracy of all information given by making their own inspections, searches, inquiries and advises or as is otherwise necessary. The vendor or its agents or representatives will not be responsible for any error or misdescription which may appear. Further, the vendor or the developer or their agents or representatives do not represent, warrant and/or guarantee that the integrity of this communication has been maintained or that the communication is free of errors, virus, interception or interference. Usage of this or any other websites and materials and any associated website or material is subject to further terms and conditions.