Can I access super early for personal reasons?
In Australia, the Australian Taxation Office is the watchdog of the early release of super claims. The official name is “Early release of super under compassionate grounds”.
As the population of Australia continues to age more people are looking to access their super before their retirement, and in certain circumstances, it is legal to do so.
Claiming your super early
The ATO requires the applicant to provide the relevant paperwork and submit the application through their My Gov account. If the paperwork is all in order then most times the application will be approved.
Jane’s story of early release of superannuation
I need to have surgery – can I access super early
Jane had lost weight. Over an 18 month period she had shed the kgs she had accumulated after she had had her last child 6 years before.
After the weight loss she was left with a very sagging tummy that prevented her from exercise, it chafed, became infected under the folds of the skin and was painful. No amount of exercise helped to reduce the skin. After consultation with her doctor, Jane tried to get help through the public health system. Her wait would be years. The cost of the surgery was prohibitive – unless she was able to access her super for the surgery.
The ATO allows the release of super for these types of situations.
Release My Super assists with the paperwork involved in early release of superannuation.
I need money to pay for my son’s rehab – can I access my superannuation
My son needs inpatient rehab. The public waiting list is too long. He is out of control and needs assistance now.
The ATO is fast when processing claims for early release of superannuation under compassionate grounds. Within 2 days of submitting the application, Steve had the money approved by the Australian Tax Office to get his teenage son into rehab.
Release My Super worked with the client and the relevant bodies to ensure all the paperwork was submitted to the letter of what the ATO requires.
The ATO approves early release of super for:
- Plastic Surgery
- Mental Health
The money released by the ATO must be used for the purpose intended and evidence of this must be kept.
Release My Super works with you as the client and makes the process as effortless as possible.
Call Kathie Baker on 1300 090 261 for a chat about your situation.