Reduced minimum super drawdown rates extended to 30 June 2023.
New legislation has been registered to extend the temporary reduced minimum drawdown rates to 30 June 2023.
This government measure was introduced in 2020 in response to COVID-19 which has been in place for the 2019–20, 2020–21 and 2021–22 financial years and is being extended to the 2022–23 financial year.
This temporary reduction will end from 1 July 2023 and the minimum drawdown rates will revert to the default rate for the 2023/24 financial year onwards.