Higher caps mean you can ramp up non-concessional contributions, retirees can begin pensions with more tax-free money and younger savers get a bigger kickstart.
The drawdown rate is theand, from July 1, ranges from 4 per cent to 14 per cent depending on age.
He is already doing this for clients, he says, by setting up new portfolios that mirror the equities they held in their SMSF. “Many clients have adjusted their lifestyles and managed quite well [on the lower drawdowns] – people have got used to less frequent travel and the like. But whether they’re just going to go nuts now [with travel and spending], I don’t know,” Balalovski says.
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