DailyCare and Barry Plant partner to help vendors navigate downsizing in response to July 1, 2018 government changes to downsizing cap

For many people the need to downsize emerges gradually as they discover that their current lifestyle doesn’t quite ‘fit’ anymore. But for others the need to downsize can come as an unwelcome surprise, when illness or accident means that life has to change suddenly. 

Having such a complete view over the aged care system and their dealings with people on all stages of the care journey, has allowed DailyCare to see first hand the gaps in consumer information and therefore choice. A complementary partner, with a similar expertise in their own field was sought, resulting in  Barry Plant being brought on to reduce the gap in real estate based information for those people wanting to downsize – for whatever the reason. 

The aim: to show that downsizing for health reasons doesn’t mean that you have to compromise on creating the life one desires. Life does not simply stop once a person needs a bit of extra assistance and there certainly is still choice once you have the full picture.

The Federal downsizing cap for 65+ commencing 1st July is one particular area where DailyCare is working with Barry Plant to bring awareness to as a viable option for home owners over 65.
“The ability to make a downsizer contribution is a once-in–a-lifetime event: only one home sale ever is eligible for downsizer contributions. Put simply, it means that as of July 2018, you are able to use $300,000 from the sale of your current home to move across to your superannuation fund if you’ve lived in your home for over 10 years, and are over 65. This can help Australian’s build a healthier super balance, which can really come in handy  if your super is looking a bit scant. It’ll give you added security in the long-term, and who doesn’t want that? ” Said Mr Tull Roseby of DailyCare.”

The important thing is to get the very best price for the home you are selling so you can maximise, not only the money that you are putting in to superannuation but have more options with the balance that is left over.  That’s where Barry Plant can help.  As Victoria’s most successful real estate group, they will work with you to ensure that you get the best possible result when you decide to downsize. 

 

Downsizer contributions, are you eligible?

How to make a downsizer contribution

 

Head to our toolbox for more downsizing articles in partnership with
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