UPDATE: COVID-19 – SMSF Measures

Dear clients,

We hope you are keeping safe during these difficult times. To support retirees the Federal Government has reduced the minimum pension percentages that apply for the 2019-20 and 2020-21 financial years. Individuals benefit from this measure by reducing the need to sell SMSF assets to fund minimum pension requirements.

The table below shows the minimum pension percentages that applied previously and the reduced minimums now in force.

If you need further clarification regarding these changes please contact our office on (03) 9431 1420.

C & H Accounting Group team