Early release of super
If you have been financially affected by COVID-19, you may be able to access some of your superannuation early.
Eligible citizens and permanent residents of Australia or New Zealand can apply for up to $10,000 in 2019–20 and up to a further $10,000 in 2020–21.
Eligible temporary residents are able to apply once to access up to $10,000 of super in 2019–20.
Applications can be submitted online through ATO online services in myGov:
- until 30 June 2020 for the 2019–20 year
- between 1 July 2020 and 24 September 2020, for the 2020–21 year.
You will not need to pay tax on amounts released and will not need to include these amounts in your tax return.
See our website for full details including:
- implications of accessing your super early
- submitting an application
- after you apply
- be aware of scams and schemes
- need support
People should consider getting super released as the last resort and it is best to seek financial advice.
MoneySmart is an Australian Government site that provides non-specific advice on making financial decisions.
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