Friendly Reminder: Minimum Pension Drawdown
Liz Gibbs • May 9, 2025

Friendly Reminder: Minimum Pension Drawdown

If you’re receiving an account-based pension from your SMSF, there’s a minimum amount you need to withdraw each year. This amount is worked out using a percentage based on your age and your pension account balance as at 1 July 2024-or on a pro-rata basis if you started your pension partway through the 2025 financial year.


It’s really important to make sure you take out at least the minimum by 30 June, otherwise there could be some unwanted tax consequences.


If we look after your SMSF, keep an eye out for your Minimum Pension Drawdown letter-we’ll be sending it to you in the next couple of weeks!


Need Help with your Business, Bookkeeping, Tax or SMSF requirements?

If you would like a little help, please get in touch with us for assistance. We can help with your business, bookkeeping, tax and SMSF requirements.


Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Brought to you by RGA Business and Tax Accountants. Liability Limited by a scheme approved under Professional Standards Legislation. 


The $20,000 Instant Asset Write-Off Is Here to Stay
By Liz Gibbs • October 5, 2026
The $20,000 instant asset write-off is now permanent from 1 July 2026. Find out how your small business could benefit when buying new equipment or assets.
The Two-Solution Rule: How One Question Can Free You From Constant Interruptions
By Liz Gibbs • October 2, 2026
If your team relies on you for every decision, try the two-solution rule. A practical leadership habit that builds independence and frees up your time.
ATO busts common myths under the cents per kilometre method
By Liz Gibbs • October 1, 2026
Claiming car expenses with the cents per kilometre method? Avoid the 5 common mistakes the ATO has flagged and make sure your deduction holds up to scrutiny.
More Posts