Extension of the temporary reduction in superannuation minimum drawdown rates
The Government has announced an extension of the temporary reduction in superannuation minimum drawdown rates for a further year to 30 June 2022.
As part of the response to the coronavirus pandemic, the Government reduced the superannuation minimum drawdown rates by 50 per cent for the 2019-20 and 2020-21 income years, ending on 30 June 2021.
Today’s announcement extends that reduction to the 2021-22 income year and offers retirees more flexibility and choice in retirement.
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