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Article archive
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Quarter 1 of, 2022 archive
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Undisclosed income risks hefty asset betterment assessments
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Superannuation Guarantee (SG) increases
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How stress and burnout are different, and why the difference is important
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Accountants ‘have important role to play’ in digital transformation
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ATO launches campaign to target tax withholding on overseas royalties
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ATO releases new draft guidance products impacting private trusts
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GDP by country since 1800
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ATO releases new guidelines to combat identity theft.
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Extension in minimum drawdown rates
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Extension of the bring-forward age up to 67
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Government urged to address lingering issues with advice reforms
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Beware section 99B
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ATO provides further clarity on DIN process
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10 top global corporations since 1998
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Increase in the number of SMSF members
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Single Touch Payroll (STP) – Phase 2
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ATO reiterates tax system incentives
Extension in minimum drawdown rates

The temporary reduction in superannuation minimum drawdown rates (due to covid impact on earnings)has been extended to 30 June 2022.

This allows retirees the option to manage income payments differently during times of uncertainty.

Age at 1 July 2021

Temporary Minimum Drawdown rates

(until 30 June 2022)

Default minimum drawdown rates

(from 1 July 2022)

Preservation age to 64

2.0%

4.0%

65 to 74

2.5%

5.0%

75 to 79

3.0%

6.0%

80 to 84

3.5%

7.0%

85 to 89

4.5%

9.0%

90 to 94

5.5%

11.0%

95 and under

7.0%

14.0%

 

 

 

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