XPLAN Legislative Rates June 2022
XPLAN Legislative Rates - June 2022 |
Legislative rates have been updated to reflect:
1. Social Security rates effective July 2022
2. AFSA Retirement Standard Benchmarks for the March Quarter 2022.
Social Security Rate Changes - July 2022
The rate changes include increases to:
- Pension Income Free Areas
- Asset Test thresholds
- Deeming thresholds; and
- Family Tax Benefit A and B rates.
Attached are the full details or rate changes and indexation rates as at July 2022.
ASFA Retirement Standard Benchmarks
The ASFA Retirement Standard benchmarks can be used when setting a client's retirement income objective in the following XPLAN tools:
- Xtool: Retirement Funding; ;
- Engage: Planning for Retirement; and
- Prime.
The detailed breakdowns for the March quarter 2022 are attached.
How Do I Update XPLAN for New Rates & Thresholds? |
In order to apply the latest legislative updates to your XPLAN site, you will require site administration access. Go to Administration > Site > Assumptions > Legislative
1. Select the Legislative File that you wish to apply to the XPLAN site; OR
2. If you prefer to receive future updates and apply them automatically to your site without having to manually select each time, tick the "Automatically update to the latest nightly" button. Once this has been ticked, the next update that becomes available to your site will automatically apply.
For more information, please contact support@wealthaxis.com.au
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