Last chance to access COVID-19 early access to super

December 2020

The ATO has warned that those wanting to access their superannuation pre-Christmas will need to complete the application by 31 December 2020.

If you're still planning to access your super as part of the COVID-19 early access measures, you need to act fast - 31 December 2020 is the last day you can.

The ability to access up to $10,000 of 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.

Please contact us on 02 9957 4033 for additional guidance.

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This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.

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