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Early super release

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Needing an answer for a discussion I’ve had.

Know a person who applied for early release super and has been approved. She technically isn’t eligible but said that the ATO told her that if she wasn’t eligible the ATO can’t make you repay that money as it’s technically yours.

Can you verify whether there is penalties for not being eligible and accessing your super early or there isn’t much that can be done once you’ve got it.

I believe there are penalties she said there isnt
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Hello @ch123 

It is difficult to work out what exactly has happened with the limited information you have provided, I am unsure of what is meant by “she technically isn’t eligible”

I can say that even if technically it is her money she is accessing, It is an offense to provide a false or misleading statement to a Taxation officer which the ATO could take prosecution action against. If your friend has knowingly or accidentally made a misleading or false statement on her application for early release of super, then she should definitely make contact with the ATO to clear things up as soon as possible.

PBlizz

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Most helpful response

Community Support

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Hello @ch123 

It is difficult to work out what exactly has happened with the limited information you have provided, I am unsure of what is meant by “she technically isn’t eligible”

I can say that even if technically it is her money she is accessing, It is an offense to provide a false or misleading statement to a Taxation officer which the ATO could take prosecution action against. If your friend has knowingly or accidentally made a misleading or false statement on her application for early release of super, then she should definitely make contact with the ATO to clear things up as soon as possible.

PBlizz