From www.smsfadviser.com: The downsizer contribution allows individuals over 55 to add significant funds to their superannuation without affecting their total superannuation balance by contributing up to $300,000 from the sale of their main residence.

Natalie Scott from Accurium explains that the property must be owned for at least 10 years and sold for a price that qualifies for the main residence exemption, while spouses can each contribute if at least one holds an eligible interest.

Clients must meet specific timelines for submitting necessary forms and contributions, specifically within 90 days of receiving sale proceeds.