Superannuation minimum pension payment

Bring back pension drawdown relief, says Taxpayers Australia

Taxpayers Australia is calling for the reintroduction of pension drawdown relief, as low interest rates are forcing SMSFs to restructure their investments to fund pension payments The organisation said the minimum drawdown requirements on account based pensions are “too high in an environment where deposit interest rates offered by financial institutions… Read More »Bring back pension drawdown relief, says Taxpayers Australia

Government abandons changing super pension drawdowns

Government, superannuation, minimum pension drawdown

Update: Assistant Treasurer Josh Frydenberg now says the Government is considering changing the superannuation drawdown rules, without increasing the rates.

Despite promising to review the appropriateness of the minimum superannuation pension drawdowns, the government appears to now be abandoning any changes.

The Australian Financial Review is reporting that Social Services Minister Scott Morrison said the government has no intention of making any changes to pension drawdowns.

Read More »Government abandons changing super pension drawdowns

SMSF borrowing on ATO’s radar, says Assistant Commissioner

SMSF borrowing, ATO Assistant Commissioner for superannuation, minimum pension paymentSMSF borrowings which contravene the SIS Act and regulations are on the ATO’s radar.

ATO Assistant Commissioner for superannuation, Matthew Bambrick, told the Tax Institute Annual Superannuation Intensive Conference that the ATO is “concerned that some organisations are promoting arrangements where SMSF assets provide members with a current-day benefit.”

Read More »SMSF borrowing on ATO’s radar, says Assistant Commissioner