Extension of the temporary reduction in superannuation minimum drawdown rates
The Government announced it will extend the 50 per cent reduction of the minimum drawdown requirements for superannuation income streams for a further year to 30 June 2023. The minimum drawdown requirements determine the minimum amount of a pension that a retiree has to draw from their superannuation in order to qualify for tax concessions.
The minimum annual drawdown rates are as follows:
| Age | Standard rate | Temporary reduction
2019-20 to 2022-23 |
| Under 65 | 4% | 2% |
| 65-74 | 5% | 2.5% |
| 75-79 | 6% | 3% |
| 80-84 | 7% | 3.5% |
| 85-89 | 9% | 4.5% |
| 90-94 | 11% | 5.5% |
| 95 and over | 14% | 7% |
The Victorian Government has established a farm drought support grants program. This program aims to assist primary production businesses to implement on-farm infrastructure to improve… from Farm drought support grants
As of 19 May 2025, West Carr & Harvey moved from MYOB to Xero as its primary accounting and tax online software. Why was this… from West Carr Harvey has moved to Xero
The ATO has announced a new reviewing process called the “Medium and Emerging Private Groups (MEPG) tax performance program.” What is it? The MEPG program… from New ATO review program – what you need to know
The Victorian Government has established a farm drought support grants program. This program aims to assist primary production businesses to implement on-farm infrastructure to improve… from Farm drought support grants
As of 19 May 2025, West Carr & Harvey moved from MYOB to Xero as its primary accounting and tax online software. Why was this… from West Carr Harvey has moved to Xero
The ATO has announced a new reviewing process called the “Medium and Emerging Private Groups (MEPG) tax performance program.” What is it? The MEPG program… from New ATO review program – what you need to know
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