With the slashing of dividends due to the pandemic and historically low interest rates, self-funded retirees are finding it increasingly tough to live off investment returns generated by their self-managed super funds (SMSFs). Government initiatives aimed at alleviating the economic impacts of the pandemic have not offered support to this cohort. However, a new ruling by the Australian Tax Office (ATO) potentially provides a way for some retirees to improve incomes. To read the entire article by Noel Whittaker in The Sydney Morning Herald, please click here.
Tags: ATO, home equity, retirees