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Payroll Tax 2020 concessions and JobKeeper
Work Related expenses – 2020
‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
Extra Tools & Resources for our clients.
Year End Tax Deductions – “equipment”
Home Office Claims 2020
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Tax time 2020: ATO homes in on rental deduction claims
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Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
ATO updates JobKeeper compliance approach
COVID-19 hotspots - tax time 2020
Tax reform to feature heavily in PM’s JobMaker plan
Jobkeeper Fraud warning
ATO extends initial JobKeeper payment deadline
Boosting cash flow - ATO
Our website, your resources
ATO releases JobKeeper alternative test
Temporary Working from Home Expenses Rule
Minimum Pensions Halved – 2020 & 2021
More coronavirus support for landlords, commercial tenants
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Minimum Pensions Halved – 2020 & 2021

Retirees have support to preserve their superannuation benefits by changing their minimum pension.



         


Superannuation fund values will have suffered from coronavirus driven financial market volatility, particularly since stock market peaks of February 2020.


The Government is temporarily reducing the superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for the 2019-20 and 2020-21 income years.


Age

Default minimum draw down rates (%)

Reduced rates by 50% for 2019-20 and 2020-21

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 or more

14

7


 


A similar temporary measure occurred from 2009 to 2011 following the global financial crisis.


This measure will reduce  the need to sell investment assets (at a depressed time) to fund minimum drawdown requirements.


 


 


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8th-May-2020

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