Superannuation early Release COVID-19

[#1]

Hi! I'm trying to apply for the early release of my Super but on the form only shows the amount until Jun-2019. How can I claim the total amount up to Apr-2020?  I should write the total amount I have on my full balance or there is another way to do it?

Thanks

[#2 · Accepted solution]

Hi @facuaguinaga 

Please see https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/COVID-19-early-r...

There are four ways you can check your super balance:

• Check your total superannuation balance in ATO online services. There will be an 'as at' or 'effective' date for the balance. In a lot of cases it will be 30 June 2019 as funds are only required to report to us once a year. This means your account balance may have changed since it was last reported to us.
• If you have access to your super fund's online member portal, you can log on and check your current account balance there. It might be a good time to establish a login to your fund portal if you haven’t already.
• Check the last statement that your fund issued to you. This might be by paper or email.
• Call your fund, but understand that they have had a large increase in members calling and there could be delays in having your call answered.

[#3]

I already checked my Super balance on the ATO website. On my full balance, I can see all my funds (2019 and 2020). I should claim that amount on my form? I don't know why only appears the amount until Jun-2019 on the form. 

[#4]

As it states in the first dot point " in a lot of cases it will be 30 June 2019 as funds are only required to report to us once a year. This means your account balance may have changed since it was last reported to us", You would check with your superannuation fund what the current balance is.

[#5]

Thank you very much for your time Tracey!

Ok, so I should claim for the total that my superannuation company indicates to me, even if it is higher than what ATO have.

Thanks again Tracey! Really appreciate

[#6]

Hi facuaguinaga,

I have the same problem like yours so could you please let me know what's the outcome of that you apply the ealry access with your real balance. 

I'll be real appreciate. 

[#7]

Hi CYLee! Finally, I checked my real balance with my superannuation company (in my case AMP SuperLeader). Now that I know how much I have on my fund, I entered the amount on the text box available on the claim form, next to the amount that ATO shows. The amount you see available on the ATO website may not be the real amount you have on your fund, because they receive the information from your company maybe once a year. You must check how much is in your fund and with that information, you will see how much you want to claim.

Cheers!

[#8]

Thank you facuaguinaga. I apply as you said and I'll update what the outcome.

[#9]

Update!!

I've just received my super from the funds but the amount is slightly different from what I applied for, nearly $20 less to be accurate. I only can find there was a transaction of $11 contribution tax and nothing more. 

Though I am confued about where this $20 goes, I'm glad I got most of my super.

[#10]

did you get any notifications from your super company?? i was approved on 21st but still havent heard anything or recieved anything.