Extension of the temporary reduction in superannuation minimum drawdown rates

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Islay, 30th May, 2021.

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  1. Islay

    Islay Well-Known Member

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    Islay, 30th May, 2021
    #1
    Anne11, Terry_w and qak like this.
  2. Mark F

    Mark F Well-Known Member

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    I am a bit surprised by this as I would have thought that it was totally unnecessary. Personally my smsf (fully in shares) is up 150% over pre-covid value and I have not done much to manage the covid dip.
     
    Mark F, 30th May, 2021
    #2
  3. Islay

    Islay Well-Known Member

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    Yes, I am surprised too. Perhaps an election pending?
     
    Islay, 31st May, 2021
    #3
  4. SatayKing

    SatayKing Well-Known Member

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    But those who jumped and went to cash ain't.

    Nah, they just feel sorry for those who did the above.
     
    SatayKing, 31st May, 2021
    #4
  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    For self funded retirees with suitable cashflows this is a bonus. Using an example of a single super pensioner with $1.6m this equates in cashflow terms to being allowed to contribute $32,000 to super. (ie 2% x $1.6m).

    Scomo has had the marketing team thinking of ways to win votes across various demographics. Last time he had shorten shoot himself with the dividend stripping plan. "The Bradbury Plan". Now he just needs to find some really lucrative scheme for age pensioners. And something appealing for the younger voters. A bit more for women who all think he is a dick.
     
    Paul@PAS, 31st May, 2021
    #5
  6. Islay

    Islay Well-Known Member

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    We have no way of adding to our super accounts. This is a bonus! :)
     
    Islay, 31st May, 2021
    #6
    Scott No Mates likes this.
  7. John Smith

    John Smith Well-Known Member

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    Summed up beautifully Paul.
    Self-funded retirees rock!
     
    John Smith, 6th Jun, 2021
    #7