Should deeming rates drop again?
Now that the RBA has dropped the cash rate again by 0.25% surely the Government should be dropping the 3% deeming rate. Our Super has just had the entire years gains wiped out and Retirees can't sustain this type of loss along with the Government gouging from the assets.
17 comments
The current deeming rate is grossly over the top. The best rate being offered by the Banks is circa 1.5% for balances greater than $10,000. With this latest RBA action I reckon this rate will fall.
I see that the deeming rate should be reduced to 1.0% at the least.