Pension minimum drawdown reduction extended In its 2020 economic response to the COVID-19, the Australian Government announced a temporary reduction to superannuation minimum drawdown requirements for account-based pensions and similar products for 2019-20 and 2020-21. This temporary reduction has been extended for a further year to 30 June 2022. What does this mean? The minimum […]
About 8.3 million Australian workers are set to get a boost to their long-term savings from July. On July 1, the compulsory superannuation guarantee contribution made by employers rose from 9.5 per cent of your base salary to 10 per cent. For someone on average earnings of $68,000 this will mean an extra $6.50 per […]
Key points More vaccination confusion leading to increased political tension between the states and Canberra Bumper Australian jobs data showing the economy, as a whole, is travelling well The recent rise in US inflation is temporary, and driven by increased demand on COVID impacted supply chains The Big Picture During June, the COVID vaccine saga […]
