Do Queensland or Federal Government grants or concessions apply to downsizers, pensioners, or over-60s selling on the Gold Coast?
Are you aged 60 or over and thinking about downsizing your home on the Gold Coast? You may be eligible for government incentives designed to help older Australians transition into more manageable living arrangements while freeing up housing stock for younger families.
In this guide, we break down the key grants, tax concessions, and financial incentives available to downsizers, pensioners, and retirees in Queensland, particularly those selling a home on the Gold Coast.
🏠Why Downsizing Is a Popular Choice for Over-60s on the Gold Coast
Many homeowners in their 60s, 70s or even 80s are selling their larger family homes in places like Surfers Paradise, Mermaid Waters, or Hope Island to:
- Move closer to family or support services
- Reduce maintenance and home upkeep
- Access equity to support retirement
- Transition to retirement villages or coastal apartments
If you’re considering this move, several government benefits may apply to your situation—provided you meet certain conditions.
đź’Ľ 1. Federal Downsizer Superannuation Contribution Scheme
One of the most valuable incentives for over-60s is the Downsizer Contribution Scheme, introduced by the Australian Government.
âś… What It Is:
You can contribute up to $300,000 per person ($600,000 per couple) from the sale of your primary residence into your superannuation, without it counting towards your normal contribution caps.
🔍 Eligibility Criteria:
- You must be aged 55 or older (as of 1 January 2023)
- The home must be in Australia and have been owned for 10+ years
- The home must have been your main residence for some or all of that period
- You must make the super contribution within 90 days of settlement
- You don’t need to purchase a new home to qualify
đź“Ś Key Benefits:
- Boosts your super balance tax-effectively
- No work test or age cap applies
- Doesn’t count towards non-concessional limits
- Great way to convert home equity into retirement income
💡 Important: The downsizer contribution may affect Age Pension entitlements under the assets test—speak with a financial adviser first.
đź’° 2. Queensland Government Concessions for Seniors Selling or Buying Property
While Queensland doesn’t currently offer a direct “selling concession” for pensioners or downsizers, there are stamp duty (transfer duty) savings when buying your next property.
🏡 Home Transfer Duty Concessions (Buying Your Next Home):
- Home Concession: Available if you’re buying a principal place of residence
- First Home Concession: If you’re downsizing into your first owned property (e.g. from a rental or shared family home)
- Seniors and Pensioners Concession: Applies only to utility bills and rates, not to property sale proceeds directly
👉 While this doesn’t help you on the selling side, it can reduce the costs of your next purchase, especially if you’re buying a smaller, more manageable home.
👵 3. Centrelink and Age Pension Considerations
Selling your home can impact your Age Pension if proceeds are not fully reinvested into another residence.
⚖️ Here’s what to know:
- The principal place of residence is exempt from the assets test
- If you sell your home and don’t buy another immediately, the sale proceeds are deemed as financial assets
- This may temporarily reduce your Age Pension payment
- Centrelink gives a 12-month exemption for homeowners planning to buy, build, or renovate their next home using the proceeds
💡 Downsizer super contributions don’t count as income but will count toward the assets test, potentially reducing Age Pension entitlements.
🔄 4. Reverse Mortgages vs Selling – A Consideration for Some Over-60s
For seniors not quite ready to sell, it may be worth comparing the pros and cons of downsizing now vs. reverse mortgage products that allow you to access equity while staying put.
But if selling is your best next step, the current range of government schemes for over-60s is geared toward those ready to release equity and simplify their lifestyle.
đź“‹ Checklist: Are You Eligible for Any of These?
| Incentive | Eligibility | Benefit |
| Downsizer Super Contribution | 55+ | Up to $300k per person into super (no cap impact) |
| Transfer Duty Concession | Buying a new PPOR | Reduced stamp duty on next home |
| Age Pension Exemption | Selling & planning to buy | 12-month exemption from assets test |
| Council Rate Concessions | Seniors Card / Pension Card | Ongoing rates savings post-sale |
đź“ž Ready to Talk About Downsizing?
Whether you’re still exploring options or ready to sell your family home and take the next step, I’m here to guide you.
I can provide:
- A free home appraisal
- Local market insights
- Guidance on what support or government incentives may apply to you
🙋‍♀️ FAQs: Government Concessions for Over-60s Selling Homes
1. Can I still get the Downsizer Contribution if my home was jointly owned with my partner?
Yes. If both partners meet the criteria, each can contribute up to $300,000 into super—$600,000 total.
2. Does the Downsizer Contribution affect my Age Pension?
It doesn’t affect income, but it does count towards your assets—which could reduce your Age Pension payments.
3. Are there any Queensland-specific grants for retirees selling homes?
Not directly. Most support is available at the buying stage (e.g. transfer duty concessions), not when selling.
4. Can I access Centrelink concessions for selling my home?
No specific concessions apply to selling, but you may be eligible for temporary assets test exemptions after the sale.
5. What happens if I downsize into a retirement village or land lease community?
Some of these purchases may not be classed as “real property” under super contribution rules—seek financial advice first.
More Smart Seller Questions Answered
The Biggest Pitfalls to Avoid When Selling a Property on the Gold Coast
Selling your home? Before you list, discover the pitfalls to avoid when selling a property on the Gold Coast. Pricing too high, neglecting property presentation, underestimating marketing, or choosing the wrong agent can cost you time, money, and missed opportunities.
Many sellers fall into the trap of emotional decision-making or fail to prepare the property for inspections—both are deal-breakers in a competitive market. Delays in disclosure or legal paperwork can also derail a sale. Whether you’re upsizing, downsizing, or cashing in, understanding these common mistakes can mean the difference between a stressful sale and a successful one.
Author – Craig Douglas
Please Note: The information contained in this document is for general information purposes only and does not constitute legal advice. The laws and regulations governing the sale of property in Queensland are complex and constantly changing. It is important to seek the advice of a qualified property lawyer or conveyancer before making any decisions about the sale of your property. This document does not take into account your individual circumstances and may not apply to your situation. By reading this document you agree that you have not relied on the information contained herein and that you will seek independent legal advice before taking any action.
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This page was proudly created by Craig Douglas, your local independent Gold Coast real estate agent, working for a Boutique Real Estate Agency. Selling residential and commercial properties, from those that are awe-inspiring, through to a diamond-in-the-rough, otherwise known as a “renovator’s delight”.
I negotiate and sell on behalf of property owners who want to get the best possible price, with the least amount of hassle. Let’s talk about the process of selling your property over a coffee to get you started – 0418 189 963
