RS COVID-19 Update: Early release of Superannuation
To be eligible to apply for early release of your Superannuation, you must satisfy any one or more of the following requirements:
- You are unemployed; or
- You are eligible to receive a JobSeeker payment, Youth Allowance for job seekers, Parenting Payment (which includes the single and partnered payments), Special Benefit or Farm Household Allowance; or
- On or after 1 January 2020: you were made redundant; or
- Your working hours were reduced by 20 per cent or more; or
- If you are a sole trader — your business was suspended or there was a reduction in your turnover of 20 per cent or more.
If you meet this criteria, you will be able to apply to get $10K out of your super before 30 June 2020, and also another $10K in July/August.