Extension announced to the temporary reduction in superannuation minimum drawdown rates. This is an extension of the measure that was introduced in 2020 as part of the government’s response to COVID-19.
The Budget proposes positive changes to superannuation, an extension of the low and middle-income tax offsets and a boost to aged care services. We summarise some of the key points from the Budget but, remember, these are subject to the passing of legislation.
The Federal budget is out and it’s a once in a generation budget to rebuild and tame the recession. Business is at the heart of our economic recovery with a range of support measures and the creation of jobs.