DomaCom completes integration with BGL | Money Management
The integration with BGL was a major milestone for DomaCom that built upon the Australian Tax Office (ATO) ruling on downsizer contributions last year. The ATO’s Administrative Binding Advice confirmed part disposal of a home for downsizer contributions, which meant that a person could dispose of part of their home under DomaCom’s Senior Equity Release platform and still be eligible to make a downsizer contribution. The ability to contribute the proceeds of downsizing part of a home into superannuation was one of several measures announced in the 2017-2018 Budget to reduce pressure on hou...
Source: moneymanagement.com.au