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Not eligible for early super release

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Initiate

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Replies 5

So my wife and I have the family tax benefit payment from Centrelink and I was of the understanding that qualified me for an early release of my super so I applied for it to be released. Today after further reading I realised that I am not eligible. My question is will I get in trouble for this mistake or will it be picked up in the system when my application is processed that I’m not eligible and just be denied? I’m really stressing about this as I wasn’t trying to be dishonest and I’m scared that I will get fined or something. Please help!
1 ACCEPTED SOLUTION

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ATO Certified

Community Support

Replies 1

Good afternoon @Jamesb5 

Thank you for your honesty and please do not stress at all.

 

Your application will be review and if the application doesn't meet the eligibile criteria it will receive a letter rejection to your myGov Inbox.

 

If you are really concerned you contact ATO directly.

 

Have a good afternoon.

AngelaG

 

 

5 REPLIES 5
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Best answer

ATO Certified

Community Support

Replies 1

Good afternoon @Jamesb5 

Thank you for your honesty and please do not stress at all.

 

Your application will be review and if the application doesn't meet the eligibile criteria it will receive a letter rejection to your myGov Inbox.

 

If you are really concerned you contact ATO directly.

 

Have a good afternoon.

AngelaG

 

 

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Initiate

Replies 0

Thanks so much for the reply Angela. I feel so much relief now. I’ll wait for the letter to come through. Thanks again
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Newbie

Replies 0

I thought exactly the same thing & than read this.

 

Like you ill wait for the letter 

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Newbie

Replies 1

Did you hear back from them at all? Im starting to worry now, because I thought the same as you.

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Community Support

Replies 0

Hi @blairya,

 

Thank you for reaching out to us. If you still require assistance. To apply for Early access to your Super you need to meet at least one condition. You have until 30 June 2020 to apply for the 2020FY. You may also apply from 1 July 2020 for the 2021FY.


Under Assessing your eligibility it advises - 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.
 
The website also advises - 'Individuals financially affected by COVID-19 can access some of their superannuation early. Individuals will not need to pay tax on amounts released and will not need to include it in their tax return.
 
The application is available through ATO online services in myGov.'
 
It is up to the individual to self assess. If does not answer your enquiry or you still have concerns, please contact us for further advice.

 

Staff are working extended hours so you may call M-F till 8am -10pm and on the weekend 10am-4pm in your local state. 


Hope this helps.

 

Regards,

JodieR.