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Re: Early access to superannuation for sole trader based overseas

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Newbie

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Replies 2

I am a sole trader and I have had more than a 20% decrease in turnover on average this year in comparison to the last half of 2019. But my sole trader business is registered in and operates from Sweden. It is not an Australian business. Do I still qualify to access my superannuation early?

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Best answer

Community Manager

Replies 1

Hi @siaeva,

 

There is nothing in the eligibility criteria for Temporary early release of superannuation regarding the location of your business. If you meet the criteria listed below you would be eligible.

 

To apply for early release, you must satisfy any one or more of the following requirements:

  • You are unemployed.
  • You are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance.

On or after 1 January 2020, either  

  •     you were made redundant
  •     your working hours were reduced by 20% or more
  •     if you are a sole trader, your business was suspended or there was a reduction in your turnover of 20% or more

 

Hope this helps.

 

KylieS

2 REPLIES 2
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Best answer

Community Manager

Replies 1

Hi @siaeva,

 

There is nothing in the eligibility criteria for Temporary early release of superannuation regarding the location of your business. If you meet the criteria listed below you would be eligible.

 

To apply for early release, you must satisfy any one or more of the following requirements:

  • You are unemployed.
  • You are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance.

On or after 1 January 2020, either  

  •     you were made redundant
  •     your working hours were reduced by 20% or more
  •     if you are a sole trader, your business was suspended or there was a reduction in your turnover of 20% or more

 

Hope this helps.

 

KylieS

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Newbie

Replies 0

Wonderful! Thanks for a fast response Smiley Happy