DomaCom in trading halt with capital raising news pending

DomaCom Ltd (ASX:DCL) has been granted a trading halt by the ASX with a capital raising announcement pending. The trading halt will remain in place until Friday, August 21, or when an announcement is released to the market, whichever occurs earliest. Shares were more than 9% higher at 8 cents before the trading halt. Downsizer contributions confirmed On August 17 the Australian Tax Office (ATO) confirmed that a part disposal of a person’s home can be made to make a ‘downsizer’ contribution. With the ATO’s Administrative Binding Advice (ABA) confirming this advice, a person can dispose of part of their home under DomaCom’s Senior Equity Release platform and be eligible to make a downsizer contribution. Self-managed super fund (SMSF) retirees can, therefore, sell a part of their property to top up their super using the downsizer contributions legislation and remain living in their home. DomaCom CEO Arthur Naoumidis said: “The ability for retirees to help themselves by modifying their personal balance sheets and moving some of their financial resources tied up in their home to their super will enable them to enjoy a better retirement.”