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Re: Covid 19 super release

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Hi my question is if accessed your super in 2019-2020 tax year are you automatically allowed to access in 2020-2021 tax year or is it again based on eligibility. If the 20% drop in hours ceased does that mean now not eligible
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Hi @Chazza68,

 

Thanks for reaching out.

 

Applications for next financial year will open on 1 July 2020 and close on 24 September 2020. You’ll need to make sure that you remain eligible.

 

Your working hours on or after 1 January 2020 need to have been reduced by 20% or more of your average hours over the six months prior to your hours being reduced. If you’re a sole trader, your business would need to have been suspended or seen a reduction in your turnover of 20% or more.

 

It is important that you assess your eligibility accurately and honestly. You do not need to attach evidence to support your application. However, you should keep records and documents to confirm your eligibility as we may ask you for this information.

 

There is more information about COVID-19 early release of super – integrity and compliance (including withdrawing and recontributing your super) on our website.

 

I hope this helps.

2 REPLIES 2
Highlighted

Best answer

Community Support

Replies 1

Hi @Chazza68,

 

Thanks for reaching out.

 

Applications for next financial year will open on 1 July 2020 and close on 24 September 2020. You’ll need to make sure that you remain eligible.

 

Your working hours on or after 1 January 2020 need to have been reduced by 20% or more of your average hours over the six months prior to your hours being reduced. If you’re a sole trader, your business would need to have been suspended or seen a reduction in your turnover of 20% or more.

 

It is important that you assess your eligibility accurately and honestly. You do not need to attach evidence to support your application. However, you should keep records and documents to confirm your eligibility as we may ask you for this information.

 

There is more information about COVID-19 early release of super – integrity and compliance (including withdrawing and recontributing your super) on our website.

 

I hope this helps.

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Newbie

Replies 0

Thank you very helpful. It's a bit of a a grey area