What a lower deeming rate means for you
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Yesterday, Prime Minister Scott Morrison announced a $600 million dollar package to help Australia’s pensioners. This announcement concerns a planned decrease to deeming rates. The lower rate is set to drop from 1.75% to 1%, and upper rates from 3.25% to 3% from September this year.
Now, that’s a lot of numbers, so what do they actually mean, and who do they actually affect?
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