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.
1. Federal Downsizer Superannuation Contribution Scheme
One of the most valuable incentives for individuals aged 60 and above is the Downsizer Contribution Scheme, introduced by the Australian Government.
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
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.
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 versus reverse mortgage products that allow you to access equity while staying in your home.
However, if selling is your next best step, the current range of government schemes for over-60s is geared toward those ready to release equity and simplify their lifestyle.
📋 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 |
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, for a total of $600,000.
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; however, you may be eligible for temporary asset 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 making emotional decisions or fail to prepare their property for inspections, both of which 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.
THIS IS HOW YOUR JOURNEY TO A SUCCESSFUL GOLD COAST PROPERTY SALE STARTS
My simplified guide below will take you through a 20-step process for selling your property anywhere on the Gold Coast;
I proudly sell homes across the entire coast.
1. PREPARING YOUR GOLD COAST PROPERTY FOR SALE + SOME OF THE LEGAL REQUIREMENTS
- Tidying gardens and decluttering everything inside and out.
- All homes for sale, are legally required to have hardwired photoelectric, interconnected smoke alarms.
Non-removable 10-year battery smoke alarms can be installed as an alternative.
- By law, you are required to complete a pre-contractual seller’s disclosure statement: generally related to limitations, restraints, or defects in the property title, such as easements, covenants, leasing, zoning, etc.
- A pool safety certificate is also required if you have a swimming pool or if the property has a shared swimming pool (Body Corporate).
2. COMPARATIVE MARKET ANALYSIS REPORT FOR YOUR GOLD COAST PROPERTY
After showing me around your property, I will provide you with a Comparative Market Analysis (CMA) report. This is a detailed, legally required analysis of your home’s market value.
The CMA is based on recently sold and for-sale properties similar to yours in the immediate area. I will need to view your home to prepare this report.
3. SETTING A MARKETING BUDGET FOR YOUR GOLD COAST HOME
The third step in selling your home is to create a marketing budget.
By law, this must be based on actual costs.
There are various marketing options to consider, such as:
– Internal, External and Drone Photography.
– Property and House Plans show potential buyers the exact layout of your home and property.
– Internet Advertising on platforms such as RealEstate.com.au, Domain.com.au, Facebook.com, Instagram.com, etc.
– For Sale Sign on the street is still essential to attracting potential buyers. Even though many buyers start their search online, they often drive around neighbourhoods to see what’s available.
A simple fact: Not having a For Sale sign can significantly reduce the number of people who see your property and may be interested in buying it.
4. PREPARING AND APPROVING THE FORM 6 AGREEMENT WHEN SELLING A GOLD COAST PROPERTY
A Form 6 Agreement is a document provided by the Queensland State Government. It outlines all relevant details of the property sale, including the marketing budget.
Our administration team will prepare this form for you and send it for your review and approval.
5. PAYING THE MARKETING BUDGET FOR YOUR GOLD COAST PROPERTY
Once you have approved the Form 6 Agreement, the next step is to pay for the marketing budget that you have chosen.
6. STARTING THE ADVERTISING PROCESS
Once your payment is received, the advertising campaign will commence.
Advertising strategies will align with the choices you made within your marketing budget.
7. MONITORING MARKET RESPONSE
If your property hasn’t received offers within 30 days, don’t assume there’s no interest.
It often means the price isn’t aligned with what buyers are willing to pay at this time.
This is your signal to review and adjust your pricing strategy so your home remains competitive and receives the attention it deserves.
8. ARRANGING BUYER VIEWINGS
When buyers express interest in your property, viewings will be arranged to allow them to see your home in person; you need to be away from the property during these viewings.
This helps potential buyers feel relaxed and visualise themselves as the new owners, thereby forming a deeper connection with your property.
9. CONSIDERING A BUYER’S OFFER
When you receive an offer on your home, it means a buyer is serious and ready to move forward at a certain price.
This is a key moment in your selling journey. Take the time to go over the offer carefully.
Look beyond the price; check the terms, conditions, and settlement timeframes. Make sure it works for you before accepting, countering, or declining.
10. ACCEPT, COUNTER, REJECT
When an offer is presented, you will need to respond by accepting, countering, or rejecting it.
Accepting locks in the agreed-upon price and terms.
Countering proposes changes and initiates further negotiations. If countering, present revised terms clearly; open, respectful communication is key for a smooth sale.
Rejecting means the offer is unacceptable; in this case, respond promptly and professionally, explaining your reasoning for the decision.
11. YOUR LEGALITIES
When you finally accept an offer, you will engage your conveyancer or solicitor to facilitate the legal requirements to complete the sale.
If you are part of a Body Corporate, you will need to provide a Disclosure Statement from them.
Your solicitor will use PEXA to settle your property. Part of the process requires Verification of Identity. Also, anyone selling a property must complete an ATO Clearance Certificate.
12. BUYER’S DEPOSIT
The buyer’s deposit is a crucial step in the property purchase process; it will be held in the agency’s Trust account.
This is a tangible expression of the buyer’s commitment to purchase your property.
13. BUILDING AND PEST INSPECTIONS
Typically, a buyer will arrange for a building and pest inspection report to be completed, usually within 14 days of the contract date.
Additionally, they may have the contract subject to finance, which is generally applicable for 21 days from the contract date.
14. COMPLETING YOUR GOLD COAST PROPERTY SALE
Based on the outcome of the building and pest inspection report, as well as any finance being sought, the buyer will proceed with their offer or withdraw it.
At this point, the sale either falls through or becomes unconditional.
15. LOOKING FOR YOUR NEW PROPERTY
If the sale becomes unconditional, it is time to start looking for a new property. Remember, there is no need to rush.
It is essential that you take your time, as this needs to be a very considered purchase.
Your new home is of substantial value and can be costly if you change your mind. Something you may want to investigate is Short-Term Bridging Loans.
16. ALTERNATIVES YOU SHOULD CONSIDER
An alternative to seriously consider when deciding where to live between selling and buying is renting while you look for a new property.
Renting for a short period gives you breathing room; it allows you time to clear your head, make a confident, considered decision, and ultimately buy where you truly want to live, with no pressure or panic.
17. TIME FOR YOU TO MOVE
Leaving your home opens doors to a new chapter full of new beginnings. Embrace the excitement of a fresh start and cherish the memories you’ve made.
Every box you pack brings you one step closer to a new adventure full of possibilities that lie ahead.
18. YOUR SALE CONCLUDES
The culmination of the property sale is settlement; it marks the transfer of the property to the new buyer.
As the final chapter concludes, this marks a sense of achievement: your property has now SOLD.
19. YOUR FUTURE OPTIONS
If you have chosen to rent, you will continue to look for and eventually purchase a property, apartment, or perhaps even buy land and build; now there’s something to consider.
20. TIME TO UNWIND AND MAKE YOUR NEW HOME YOUR OWN
As you unpack and furnish your new home, embrace the gradual process of creating your haven.
Enjoy the transformation, one room at a time.
Relax in the tranquillity of your surroundings and immerse yourself in the gentle sounds of your new neighbourhood.
Explore the nearby parks and cafes; enjoy the unique charm of your new community.
Remember, settling in is a journey in itself; it’s not a race. Embrace the process of creating a home that reflects your unique style and personality.
Whether you’re downsizing, relocating or just ready to move on, I’ll guide you through every step of selling your Gold Coast home with confidence and ease.
Navigating the intricacies of selling your property can be complex, but it doesn’t have to be.
My 20-step guide provides a simplified general overview; as you would naturally expect, your steps may vary.
Author – Craig Douglas
Are you ready for a conversation about selling your Gold Coast home?
Let’s get you Selling
LET’S GET YOU SOLD
Craig Douglas 0418 189 963
Professional | Knowledgeable | Experienced
You can find me working at a Boutique Real Estate Agency
These are just some of the suburbs that I proudly sell homes in:
Coomera
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.
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
