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.

More information

 

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