Downsizer super contributions data

Downsizer super contributions

A downsizer contribution is a personal super contribution, but doesn’t count towards your non-concessional contribution cap. It will be reflected in your total superannuation balance when it is next calculated (on 30 June).

If you are 55 years or older at the time of making the contribution, you may be able to contribute up to $300,000 from the proceeds of the sale (or part sale) of your home into your super fund. For more information, see Downsizer super contributions.

About the downsizer super data

The downsizer super data is current as of 7 August 2024. Data for 2022–23 and earlier years are relatively settled. The 2023–24 data is subject to change as reporting by super funds of downsizer contributions is still ongoing.

Unless stated otherwise, in the following data tables references to the number of individuals is rounded to the nearest 100, and references to dollar amounts are rounded to the nearest $100,000. Totals may not add due to rounding.

Definitions

A 'financial year' is defined by the 1 July to 30 June date range. Where the data relates to a financial year, the reference is to the financial year in which the downsizer contribution was received by the super fund. This may differ from the year in which the contribution was reported to us by the super fund.

'Age' is referenced in the data as the individual's age at the date they make the downsizer contribution to their super fund.

'State or territory' is referenced based on the individual’s residential location at the date the contribution is reported to us by the super fund.

Downsizer super contributions data tables

Following are data tables for downsizer super contributions, broken into total, average, demographics, age, and gender.

Table 1: Total individuals and total downsizer contribution by financial year

Financial year	Total individuals	Total contribution ($b)
2018–19	6,500	1.557
2019–20	10,700	2.558
2020–21	13,000	3.179
2021–22	19,700*	5.048
2022–23	15,700*	4.155
2023–24	13,000	3.382

*Note: Legislation change occurred during the 2021–22 and 2022–23 financial years. This resulted in a reduction in the eligibility age and a rise in total individuals contributing towards downsizer. For more information, see Downsizer super contributions.

Table 2: Percentage of individuals and total average downsizer contribution by state or territory from 2018–19 to 2023–24

State or territory	Individuals (% of total)	Total average contribution
NSW	32.41	$264,000
VIC	24.95	$255,000
QLD	23.38	$243,000
WA	8.11	$248,000
SA	6.79	$243,000
ACT	2.07	$254,000
TAS	1.99	$246,000
NT	0.19	$248,000

In Table 2 above, we rounded average contribution amounts to the nearest $1,000.

Downsizer location demographics data

Tables 3 to 10 below show the total number of individuals and contribution by state and territory for the financial year.

The total number of individuals is rounded to the nearest 100 (or the nearest 5 for Table 10 – NT). Contributions are rounded to the nearest $100,000 for all tables.

New South Wales

Table 3: Downsizer location demographics – NSW

Year	Individuals	Contribution ($m)
2018–19	2,100	520.9
2019–20	3,400	838.2
2020–21	4,300	1,102.4
2021–22	6,400	1,708.1
2022–23	5,000	1,362.9
2023–24	4,300	1,172.4

Victoria

Table 4: Downsizer location demographics – VIC

Year	Individuals	Contribution ($m)
2018–19	1,700	406.9
2019–20	3,000	725.9
2020–21	3,000	736.3
2021–22	4,800	1,238.9
2022–23	4,000	1,075.3
2023–24	3,100	807.0

Queensland

Table 5: Downsizer location demographics – QLD

Year	Individuals	Contribution ($m)
2018–19	1,500	353.8
2019–20	2,400	544.7
2020–21	3,200	748.3
2021–22	4,900	1,198.8
2022–23	3,400	874.2
2023–24	2,900	737.7

Western Australia

Table 6: Downsizer location demographics – WA

Year	Individuals	Contribution ($m)
2018–19	400	100.5
2019–20	700	172.8
2020–21	1,100	247.3
2021–22	1,500	358.8
2022–23	1,500	393.5
2023–24	1,200	304.4

South Australia

Table 7: Downsizer location demographics – SA

Year	Individuals	Contribution ($m)
2018–19	400	97.3
2019–20	700	163.1
2020–21	900	215.9
2021–22	1,300	327.1
2022–23	1,000	263.3
2023–24	900	226.6

Australian Capital Territory

Table 8: Downsizer location demographics – ACT

Year	Individuals	Contribution ($m)
2018–19	200	38.4
2019–20	200	55.6
2020–21	300	63.2
2021–22	400	113.4
2022–23	300	93.2
2023–24	200	49.5

Tasmania

Table 9: Downsizer location demographics – TAS

Year	Individuals	Contribution ($m)
2018–19	200	35.7
2019–20	200	55.9
2020–21	300	62.3
2021–22	400	92.7
2022–23	300	79.5
2023–24	200	58.5

Northern Territory

Table 10: Downsizer location demographics – NT

Year	Individuals	Contribution ($m)
2018–19	15	3.4
2019–20	10	2.2
2020–21	10	2.8
2021–22	40	10.7
2022–23	35	10.0
2023–24	35	8.6

Downsizer age and financial year data

Tables 11 to 19 below show the number of individuals and number of contributions by age and financial year.

Table 11: Individuals 55 to 59 years old

Year	Individuals	Contribution ($m)
2018–19	n/a	n/a
2019–20	n/a	n/a
2020–21	n/a	n/a
2021–22	n/a	n/a
2022–23	400	100.6
2023–24	800	213.0

Note: From 1 January 2023, eligibility changed to 55 years and over.

Table 12: Individuals 60 to 64 years old

Year	Individuals	Contribution ($m)
2018–19	n/a	n/a
2019–20	n/a	n/a
2020–21	n/a	n/a
2021–22	n/a	n/a
2022–23	3,100	851.3
2023–24	2,300	602.6

Note: From 1 July 2022 to 31 December 2022, eligibility changed to 60 years and over.

Table 13: Individuals 65 to 69 years old

Year	Individuals	Contribution ($m)
2018–19	2,400	568.0
2019–20	3,800	909.2
2020–21	4,600	1,134.5
2021–22	6,800	1,750.7
2022–23	3,500	926.0
2023–24	2,800	737.2

Note: From 1 July 2018 to 30 June 2022, eligibility was 65 years and over.

Table 14: Individuals 70 to 74 years old

Year	Individuals	Contribution ($m)
2018–19	2,100	503.9
2019–20	3,400	802.3
2020–21	4,200	992.2
2021–22	6,100	1,527.2
2022–23	3,400	880.7
2023–24	2,600	657.3

Table 15: Individuals 75 to 79 years old

Year	Individuals	Contribution ($m)
2018–19	1,200	282.8
2019–20	2,000	466.9
2020–21	2,500	613.8
2021–22	4,000	1,008.2
2022–23	3,000	778.0
2023–24	2,500	614.6

Table 16: Individuals 80 to 84 years old

Year	Individuals	Contribution ($m)
2018–19	500	133.6
2019–20	1,000	238.9
2020–21	1,100	289.4
2021–22	1,800	473.7
2022–23	1,500	392.9
2023–24	1,300	332.1

Table 17: Individuals 85 to 89 years old

Year	Individuals	Contribution ($m)
2018–19	200	50.7
2019–20	400	101.3
2020–21	400	108.3
2021–22	800	209.1
2022–23	600	162.8
2023–24	500	142.9

Table 18: Individuals 90 to 94 years old

Year	Individuals	Contribution ($m)
2018–19	100	14.4
2019–20	100	34.5
2020–21	100	34.9
2021–22	200	69.0
2022–23	200	49.4
2023–24	200	54.5

Table 19: Individuals 95 years and older

Year	Individuals	Contribution ($m)
2018–19	10	3.5
2019–20	20	5.4
2020–21	20	5.4
2021–22	35	10.6
2022–23	35	10.1
2023–24	40	10.4

Downsizer gender and contribution data

Table 20: Summarised percentage of gender and average amount contributed by financial year

Year	Male (%)	Average contribution	Female (%)	Average contribution
2018–19	46.54	$239,000	53.44	$241,000
2019–20	45.37	$238,000	54.63	$239,000
2020–21	45.98	$244,000	54.02	$246,000
2021–22	46.08	$257,000	53.92	$257,000
2022–23	42.75	$265,000	57.17	$266,000
2023–24	42.06	$259,000	57.37	$262,000

In Table 20 above, we rounded average contribution amounts to the nearest $1,000.

Table 21: Number and percentage of individuals by gender and number of contributions financial year

Year	Male	Male (%)	Contribution ($m)	Female	Female (%)	Contribution ($m)
2018–19	3,000	46.54	720.5	3,500	53.44	836.3
2019–20	4,900	45.37	1,158.5	5,900	54.63	1,399.8
2020–21	6,000	45.98	1,454.1	7,000	54.02	1,724.5
2021–22	9,100	46.08	2,328.2	10,600	53.92	2,720.3
2022–23	6,700	42.75	1,770.5	8,900	57.17	2,381.4
2023–24	5,500	42.06	1,414.0	7,400	57.37	1,950.6