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James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
At what age does this home investment cease meaning if I was 74 still working sold my home can I have that tax offset for till I finish work
We are considering the best option for an aging couple with increasing health problems. My plan, if I can get my wife to agree, is to sell the current home, which we have now lived in for 12 years, buy the next stage (something with potential support attached) mainly using money from other investments, and contribute the bulk of the house sale money to superannuation (where I hope it is safer and with better return) . Is this sound?
Hi Neil, thanks for joining the fun and well done planning ahead! If Retirement Essentials were to comment on your plan it would be considered personal advice so I cannot say I’m sorry. If you’d like to talk about it with someone you can trust we do offer advice consultations. The consultation can be either online or via phone call, goes for up to 45 minutes and costs $150.
CLICK HERE to book now.
Hi, Am I correct that by renting out our unit to move into a retirement village ( non-purchase) we would not be able to take advantage to put $300,000 each into our super funds?
Thanks mike
Hi Mike, thanks for seeking further clarity! You are correct, the additional amount is only allowed if the funds are coming from the sale of your former home.