What does it mean for you? In a rapidly evolving response to the spread of COVID-19, the Federal Government’s second support package announced on 22 March, has flicked the switch to more income support for retirees and workers.
Pensions to rise as deeming rates fall
It’s been a long time coming, but up to 630,000 retirees could soon enjoy a small but welcome increase in their Age Pension payments following a cut in deeming rates used for the pension income test.i
Franking credits facing the chop
Superannuation could be about to undergo more change with the federal opposition announcing it will end cash refunds of franking credits on share dividends if it wins the next election.