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Re: early access to super for commission with retainer

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Newbie

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Hi there,

 

I am a Sales Manager of a team of Account Managers who all receive a retainer plus commission on sales made (paid in arrears). With the COVID-19 restrictions on business affecting our sales turnover dramatically, what assistance is in place for employees in this situation? Our hours havent been reduced, but our income definitely has. I salute the measures being put in place for the unemployed and sole traders, but what about those of us still working but earning 20% less during the COVID-19 crisis. Would we be eligible for early release of our super under the current terms, based on income loss? Are those terms likely to be reviewed?

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Community Support

Replies 1

Hi @McLocke,

 

No, you would only be eligible if you meet the requirements, which are 'hours' based at this stage, rather than income based, as your described.

 

Unfortunately, at the ATO, we simply administer the legislation, and I'm unable to give you much perspective on the reasoning of the decisions behind such, nor if there will be any changes in the near future. I would suggest speaking ot your local Federal member who should hopefully be of more help in this area. 

 

Thanks for reaching out, though. It's good to get your concerns out on a public board, where hopefully those making the decisions read it.

 

Take care.

 

Josh

 

2 REPLIES 2
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Best answer

Community Support

Replies 1

Hi @McLocke,

 

No, you would only be eligible if you meet the requirements, which are 'hours' based at this stage, rather than income based, as your described.

 

Unfortunately, at the ATO, we simply administer the legislation, and I'm unable to give you much perspective on the reasoning of the decisions behind such, nor if there will be any changes in the near future. I would suggest speaking ot your local Federal member who should hopefully be of more help in this area. 

 

Thanks for reaching out, though. It's good to get your concerns out on a public board, where hopefully those making the decisions read it.

 

Take care.

 

Josh

 

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Newbie

Replies 0

Cheers JoshH.

 

have sent an email to the local Fed member, hopefully I hear back soon.

 

cheers,

 

Mike