Downsizing Incentive for the over 65s

From 1.7.2018, Australians aged 65 years or over will be able to contribute the proceeds of a house sale (up to $300,000 for an individual, or $600,000 for a couple) without having to satisfy a work test, and without having to worry about the annual $100,000 non-concessional contributions cap. In addition, individuals with a total superannuation balance of more than $1.6 million will still be able to make a superannuation contribution under this downsizing policy.