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Re: Early release of super

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Newbie

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Replies 2

Hi guys! last weekend I was told I won't be working the following week and my hours will be cut back significantly, I applied for early release of super a few days ago, just worried that this won't fit the eligibility requirements? any questions on how the process works?  

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Best answer

Devotee

Replies 0

You need to make a reasonable assessment of your new working arrangement to see if you meet the eligibility criteria. Keep a record of how you worked this out in case you need to show how you did. So long as you're doing the right thing the ATO is very reasonable
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Best answer

Devotee

Replies 0

You need to make a reasonable assessment of your new working arrangement to see if you meet the eligibility criteria. Keep a record of how you worked this out in case you need to show how you did. So long as you're doing the right thing the ATO is very reasonable
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Community Support

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Hi @Victor_zhu 

Please refer to the Eligibility requirements for COVID-19 early release of superannuation.

Note the criteria states your working hours were reduced by 20% or more (including to zero) either on or after 1 January 2020. This means 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.

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.

You can contact your tax professional if you are unsure.

All the best.