You normally can’t use your super until you reach preservation age. In rare cases your super fund may let you have some of the money early.
You can apply for early release of super for the following reasons.
|You can apply if||You must|
|You’re in severe financial hardship||
There are different rules if you’re over preservation age and haven’t retired. You must:
You must also have been on an income support payment for at least 39 weeks in total since you reached preservation age. You could still be getting the payment, or you may no longer be getting it.contact us to see how we can help.
|You have a terminal illness||You must have a terminal illness.|
|You are a temporary resident||
|You have less than $200 in superannuation||
You must have less than $200 in your superannuation fund.
|There are compassionate grounds||
You must be able to prove that you have compassionate grounds for needing early release of superannuation.Read more on the Australian Taxation Office website.
|You’re eligible for the First Home Super Saver Scheme||
You must be withdrawing voluntary contributions made to superannuation after 1 July 2017 for a first home. You can apply after 1 July 2018.Read more about First Home Super Saver Scheme on the Australian Taxation Office website.