CLIENT UPDATE 30 June 2010
Extension in Drawdown Relief for Account-Based Pensions The Government has today announced that it will extend the drawdown relief currently provided for account-based superannuation pensions to the 2010-11 year. The law requires that minimum payments be made from a superannuation account-based pension at least annually. Minimum payments are determined by age and account balance on 1 July each year. The relief will again be in the form of a 50% reduction in the minimum payment amounts for account-based, allocated and market-linked pensions. Paul Cleary has considerable expertise in the provision of specialist ďŹ nancial services and would be pleased to offer strategic superannuation legal advice.
For more information, please contact: Paul Cleary Partner T: 02 8257 5760 M: 0407 052 170 paul.cleary@turkslegal.com.au
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