Australia’s rapidly growing older population has more wealth than ever and millions of spare bedrooms, yet financial incentives are pulling many away from downsizing, new research suggests.
Australia’s rapidly growing older population has more wealth than ever and millions of spare bedrooms, yet financial incentives are pulling many away from downsizing, new research suggests.
The main incentive of downsizing is to free up capital. However, primary residences are exempt from pension asset tests and you also get hit with stamp duty. Fix those two and I can see many more older Australians downsizing.