Hi All,
I have recently applied for early release of my super through the ATO, online.
I have a few questions and would genuinely appreciate any answers as the more I find myself googling, the more confused I am getting 🤣
1. Where will the 22% tax be deducted from? The money I receive into my account or the money that is left in my super account?
2.If the tax is to be withheld from the money that is left in my superannuation account what happens if there is not enough funds in the account to cover the 22% tax amount?
and lastly;
3.How long are processing time for early release of super online?
Thank you so much in advance 😊