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% |
Acctweb
Hot Issues
- FBT Reminder – Odometer Reading
- ATO’s debts on hold campaign prompts new IGTO guidance
- A comprehensive collection of small business benchmarks
- The 2025 Financial Year tax & super changes you need to know!
- Underperforming employees: When can you terminate?
- A comprehensive list of guides to industry specific tax deductions.
- ‘Renewed concerns’ about economy sees consumer sentiment dip: Westpac
- Oldest Buildings in the World.
- Small businesses may ‘collapse under strain of payday super’, IPA warns
- ATO’s hands tied with scrapping on-hold debts, expert says
- What Drives Your Business Growth and Profits?
- Australian Taxation Office (ATO) shifting to firmer debt collection activity
- Why employee v contractor comes down to fine print
- Sharing economy reporting regime for platform operators
- Countries producing the most solar power by gigawatt hours
- Illegal access nets $637 million
- Accessing superannuation benefits.
- Does your business have a company Power of Attorney?
- Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
- GrantConnect
- 2 in 3 SMEs benefit from instant asset write-off, survey reveals
- Updated guidance on R&D claims
- Do you know how to recover debts?
- Wheat Production by Country
- Types of small business benchmarks
- What is a Commercial Lease?
- Vimeo test
Article archive
- January - March 2024
- October - December 2023
- July - September 2023
- April - June 2023
- January - March 2023
- October - December 2022
- July - September 2022
- April - June 2022
- January - March 2022
- October - December 2021
- July - September 2021
- April - June 2021
- January - March 2021
- October - December 2020
- July - September 2020
- April - June 2020
- January - March 2020
- October - December 2019
- July - September 2019
- April - June 2019
- January - March 2019
- October - December 2018
- July - September 2018
- April - June 2018
- January - March 2018
- October - December 2017
- July - September 2017
- April - June 2017
- January - March 2017
- October - December 2016
- July - September 2016
- April - June 2016
- January - March 2016
- October - December 2015
- July - September 2015
- April - June 2015
- January - March 2015
- October - December 2014
January - March 2022 archive
- Undisclosed income risks hefty asset betterment assessments
- Superannuation Guarantee (SG) increases
- How stress and burnout are different, and why the difference is important
- Accountants ‘have important role to play’ in digital transformation
- ATO launches campaign to target tax withholding on overseas royalties
- ATO releases new draft guidance products impacting private trusts
- GDP by country since 1800
- ATO releases new guidelines to combat identity theft.
- Extension in minimum drawdown rates
- 6 tips for small business success in 2022
- ‘Shot across the bow’: ATO puts professional firm profit allocations on notice
- Extension of the bring-forward age up to 67
- Government urged to address lingering issues with advice reforms
- Vaccination rates (Dose)
- Beware section 99B
- ATO provides further clarity on DIN process
- Unpaid client invoices placing greater pressure on SMEs
- 10 top global corporations since 1998
- Increase in the number of SMSF members
- Single Touch Payroll (STP) – Phase 2
- ATO reiterates tax system incentives
02 4961 7300
What our clients say about us