Eligible home owners aged 55 or older can contribute up to $300,000 into their super from the proceeds of selling their main home.

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The asset test is one of the ways the government works out if you’re eligible to receive an Age Pension, and if so, how much you’d get. If your assets are worth too much (or if you earn too much), you won’t be able to receive Age Pension payments.

Adding before-tax money from your pay into your super can be a good strategy to boost your retirement savings and pay less tax.