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Work test and downsizer changes to reduce super burden
“Removing the work test is a good start in helping this cohort top up balances (which are still subject to the transfer balance cap) and while we would have liked to see the work test removed in its entirety to reduce complexity in the system, this is still a positive move,” he said. He said expanding access to the downsizer contribution to those aged 60 could be attractive for those in a younger cohort who were “asset-rich but super-poor”. “Despite the name, there is also no need for downsizing to occur, and someone who sells a primary residence but upgrades their lifestyle is ...
Source: moneymanagement.com.au