Last chance to apply for COVID-19 early access to super
This is a reminder that 31 December 2020 is the last day you can apply for early access to super under the COVID-19 early access measures.
The ATO has warned that those wanting to access their superannuation pre-Christmas will need to complete the application by 11 December 2020.
The ability to gain access up to $10,000 of your super is available to those that have been made redundant, have had their working hours reduced by more than 20%, and have been adversely financially impacted by COVID-19.
If you are not in financial hardship you should not access your superannuation.
The application process through myGov is a self-assessment process that you are responsible for. Penalties of up to $12,000 may apply for providing false or misleading information.
You should contact us before applying for this concession, to ensure you’re eligible and compliant. There could also be other financial assistance options available to you that mean your superannuation can remain untouched!
You can read about all the other extensions, concessions and packages available to help you through the COVID-19 pandemic here.
Read more about this on the ATO website.