Jason Andriessen, Chief Client Officer at financial planning experts, StatePlus, talks to Fairfax personal finance editor, John Collett, about Federal Budget sweeteners that would enable downsizing retirees to put more into their super. According to Jason, it’s not uncommon for retirees to be living in a family home worth well in excess of $1 million, but struggling to make ends meet on the age pension. He highlights that more than 80 per cent of retirees own their own home, but don’t have much super to live on. Under the proposal, those aged 65 and over will be able to downsize their family home and place proceeds up to $300, 000 each into their superannuation fund.
Read the story here: Budget incentives for downsizers only benefit the well-off, experts say – The Sydney Morning Herald