It is safe to say that COVID-19 has affected us all in some way. If you have felt the effects financially, you may be eligible to access and early release of up to $10,000 of your superannuation. In late July 2020, the Australian Government extended the application deadline from 24 September 2020 to 31 December 2020.
To apply for the early release of your super, you must be an eligible citizen and permanent Australian resident. Applications can be completed through myGov ATO online services or by contacting your super fund. Individuals will not be required to pay tax on the amount released from their super fund. If you are unsure if you are eligible, or for support to early access of your superannuation, give us a call on (07) 4638 5300 and let us give you a helping hand.