News
SMSF
Australia

SMSF – 50% reduction to the minimum pension requirements extended to 30 June 2022

7 Jun 2021
By
As a result of a large drop in the share market in 2020, and ongoing COVID-19 issues, it was announced last year that the usual minimum pension withdrawal requirements would be halved for the 2020 and 2021 financial years.

This was scheduled to end on 30 June 2021. Many were hoping for an extension to be announced as part of last month’s budget, but as nothing was forthcoming we had resigned ourselves to having the pension minimum go back to the usual percentages.

Well, good news! In a bit of a sneaky media release that seemed to go under the radar, it was finally confirmed over the weekend that the extension to 30 June 2022 would now go ahead. Click here to read the full update

SHOW COMMENTS / QUESTIONS (0)

Comments

You need to be a Strategies user to comment on this post. Click here and become premium now!

We are glad you liked it

For your convenience, this will appear under your Saved articles in the top menu.