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Purpose A practical guide for Advisers, explaining what a downsizer contribution is, the key requirements, and how to submit and fund a downsizer contribution to a Mason Stevens Super (accumulation) account. |
Quick adviser checklist
☐ Member eligibility confirmed against current ATO requirements
☐ Correct accumulation account available
☐ ATO Downsizer Contribution Form completed and signed
☐ Form uploaded through Cash Hub > Payments In
☐ Unique downsizer reference obtained for the member
☐ Correct BPAY or direct credit details provided to the member
☐ Payment made using the unique reference
☐ Payment receipt retained
☐ Allocation confirmed before any pension commencement or refresh request
1. What is a downsizer contribution?
A downsizer contribution enables an eligible individual to contribute proceeds associated with the sale of their home into superannuation. A completed ATO Downsizer Contribution Form must accompany the contribution so the super fund can record and process it as a downsizer contribution. The ATO downsizer Contribution Form must be signed by the member.
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Important 90-Day Window: The funds must enter the member’s Mason Stevens Super account within 90 days of receiving the sale proceeds Extension Requests: If you or the member (your client) need more time due to extenuating circumstances, the member can apply to the Australian Taxation Office (ATO) for an extension before the deadline passes. |
2. Key requirements
Before proceeding, ensure the following requirements are addressed:
- The member has confirmed they meet the ATO downsizer contribution eligibility requirements.
- A separate completed ATO Downsizer Contribution Form is provided for each contributing member. The (signed and dated) form must be provided to Mason Stevens before or at the time the contribution is being made to the account.
- The contribution is paid into an eligible Mason Stevens Super accumulation account.
- The completed form is uploaded through Cash Hub > Payments In before payment details are populated.
- The unique downsizer payment reference generated on the platform at time of lodging the deposit for that member is quoted with the payment details.
- Any additional documents requested by Mason Stevens Super are supplied promptly, and before the ATO deadline.
3. Documents
Mandatory document(s)
- Completed and signed ATO Downsizer Contribution Form (click here to access form via ATO website).
Documents that may be requested
- Evidence of property sale or settlement, such as a certificate of completion.
- Bank transfer receipt or payment confirmation of the transfer to Mason Stevens.
- Super and pension conversion or commencement instructions where a pension refresh or commencement is required (the corresponding forms are available at masonstevens.com.au/resources).
4. Process for an existing accumulation account
| Step | Action | What to do |
| 1 | Complete the form | Complete and sign the ATO Downsizer Contribution Form for the member. |
| 2 | Access Payments In | Log in to the platform and navigate to Cash Hub > Payments In. |
| 3 | Select the contribution type | Select Downsizer Contribution for the relevant member account. |
| 4 | Upload the form | Upload the completed Downsizer Contribution Form. The platform will generate the member’s unique downsizer payment reference. Please be aware once the form is uploaded, the unique reference number will disappear. |
| 5 | Obtain payment details | Use the BPAY or direct credit details displayed in Payments In, together with the unique downsizer reference. |
| 6 | Make the payment | The member transfers the contribution using the correct payment details and unique reference. |
| 7 | Allocation | Mason Stevens Super verifies the documentation and allocates the received funds to the member’s accumulation account as a downsizer contribution. |
| 8 | Confirmation | Where required, the adviser may request confirmation once the contribution has been received and allocated. |
5. Process if the member only has a pension account
| Step | Action | What to do |
| 1 | Establish an accumulation account | Submit the required account conversion or accumulation account application form (the corresponding forms are available at masonstevens.com.au/resources) |
| 2 | Receive confirmation | Wait for Mason Stevens Super to confirm the accumulation account has been established. |
| 3 | Complete the form | Complete and sign the ATO Downsizer Contribution Form for the member. |
| 4 | Access Payments In | Log in to the platform and navigate to Cash Hub > Payments In on the accumulation account. |
| 5 | Select the contribution type | Select Downsizer Contribution for the relevant member account. |
| 6 | Upload the form | Upload the completed Downsizer Contribution Form. The platform will generate the member’s unique downsizer payment reference. Please be aware once the form is uploaded, the unique reference number will disappear. |
| 7 | Obtain payment details | Use the BPAY or direct credit details displayed in Payments In, together with the unique downsizer reference. |
| 8 | Make the payment to the accumulation account | The member transfers the contribution using the correct payment details and unique reference. |
| 9 | Allocation | Mason Stevens Super verifies the documentation and allocates the received funds to the member’s accumulation account as a downsizer contribution. |
| 10 | (optional) Refresh the pension | If required, submit pension commencement or pension refresh instructions after the contribution has been allocated (the corresponding forms are available at masonstevens.com.au/resources). |
6. Payment guidance
- Use only the payment details shown in Cash Hub > Payments In for the relevant member.
- Quote the unique downsizer payment reference generated after the form is uploaded.
- Each member receives their own unique payment reference. Do not use another member’s reference.
- If a contribution is paid in instalments because of a bank payment limit, use the same unique downsizer reference for each instalment and retain all payment receipts. Please ensure you alert admin@mssuper.com.au if instalments are required.
- If funds are not appearing, provide payment receipts so the payment can be traced and allocated.
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TFN note Where Mason Stevens Super already holds the member’s tax file number, it is not compulsory to specify on the Downsizer Contribution Form. Do not send TFN information by unsecured email. |
7. Further Assistance
For assistance with the payment reference, contribution allocation, accumulation account establishment, or pension conversion process, contact Mason Stevens Client Services (wealth@masonstevens.com.au) or Mason Stevens Super Administration (admin@mssuper.com.au).
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Disclaimer This is general information only and does not constitute financial product advice. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation and needs. This document provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. |