Can You Put Your House Into Superannuation?

The quick answer is no you can’t but you can use the downsize of contribution rules into Superannuation for those that are over age 50 and I’ve lived in the house for at least 10 years. They can contribute $300,000 per person but this contribution needs to be made within 90 days of receiving the sale proceeds or settlement. You can put in existing property your own but this is business real property and property that is used within a business. This is where there is some flexibility but you need to be mindful of contribution rules and also capital gains tax and this is where expert advice from your Accountant which also may include advice regarding small business capital gains exemptions to make sure that you do not pay any capital gains if you decide to transfer an asset that you already owned into Superannuation. This is not only general advice it is also special advice. #robgoudie #superannuation #financialadvice #retirement #investing

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.