ACCESS YOUR SUPER EARLY

There are circumstances where you can access your superannuation before retirement

YOU MAY BE ELIGIBLE TO ACCESS YOUR SUPERANNUATION 

There are circumstances where you can access your super early and recently the government has introduced a new hardship measure to allow Australians affected by COVID-19 to access super. If you are in financial hardship you can now access up to $10,000 before 1 July 2020 and a further $10,000 from 1 July 2020.

Your application depends on the category of claim. Depending on the superannuation fund and when you stopped work, calculating your insurance entitlements can be complex. Occasionally claimants find it difficult to get accurate information and understanding complex policy conditions hidden in the fine print can be challenging. 

To be eligible you must be either.

  • unemployed

  • receiving a job seeker

  • parenting payment

  • special benefit or farm allowance

  • you were made redundant

  • your working hours were reduced

  • you are a sole trader

  • you are over the minimum retirement age (55-60)

  • you need money to pay for palliative care or funeral expenses

  • you need modifications to your home or car as a result of a disability, or medical and transport expenses for you or a dependant

  • you are permanently incapacitated for work

  • you have a terminal illness

Applications are tax-free and can be made directly to your super fund, the Australian Tax Office or the Department of Human Services depending on the type of withdrawal. The law surrounding super withdrawal can be complex, we can successfully help you make a claim so you get the financial relief you need. We understand taking on insurance companies can be daunting and in cases where they make it difficult to release your funds, our business and finance solicitors are experienced to keep you out of debt.

We're not just any law firm, we're here to provide legal solutions for any stage in your life.  No matter the situation, buying or selling property, Wills, litigation & disputes or family law. Call us for a FREE first consultation now and get started.

 

Sunshine Coast 5445 4711 Brisbane & Gold Coast 3209 7000

Caloundra, Kawana, Maroochydore, Buderim, Loganholm, Sunshine Coast, Brisbane & Gold Coast

 

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