- The Federal Government announced an extension to the temporary reduction in superannuation minimum drawdown rates for a further year to 30 June, 2022
- The reduction will remain at the same level as the 2020-21 financial year
- Table below outlines the withdrawal rates per age group:
What does this mean for members?
- Members who have elected to receive the minimum pension payment for 2020-21 will continue to receive the minimum as per the above reduced rates unless Mason Stevens is instructed otherwise by the adviser or member.
Notice of intent to claim a tax deduction
If your client is claiming a tax deduction for personal contributions made this financial year, please complete and submit the Notice of Intent to Claim Form to email@example.com. Please refer to the ATO website for further information on when the notice must be submitted.