DW decided to 'retire'

Well, DW's employer decided against letting her work from home as they want to apply one rule for everyone (the decision doesn't make much sense, as while warehouse staff and those serving customers in the sales room had to work on site while the accounts payable work could be done just as efficiently from home, as it mostly involves accounts departments of other companies, and logging into the accounting server running at head office. But I think a few of the staff were already resentful that DW had been working from home four days a week during the 'lock down' period).

So DW has given in her resignation and will stop work in a couple of weeks. She will notify our SMSF admin that she has 'retired' at the start of the new FY in July, so her account will be transferred into 'pension mode' where the tax rate will be 0% rather than the normal 15% tax rate for superannuation in accumulation mode. She will withdraw $50K to pay off some debts she had accumulated, and we'll setup a regular $1,200/mo 'pension' payment from the SMSF to her bank account.

DW might start working again (part-time or casual) later in the year (if she can find a local job that she wants to do), in which case she will continue to draw her 'pension' payment but will also resume accumulating some superannuation via SGL - which would go into a new 'accumulation' account in the SMSF in her name. We'll see how things pan out.

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