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Re: Accessing super enquiry

Newbie

Views 886

Replies 3

My question is: I am a casual employee that only works 3 hours a week when i am at work, however I have not worked this entire financial year as i left to have a baby and i wont be going back til new financial year, but will again only be 3 hours a week. Am i classed as UNEMPLOYED for this financial year as i have not received an income. Also i only have just over $10000 in my super and just keeps getting eaten up by fees as nothing is being contributed into it.
Thanks for any help that I can get.
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 1

Hi @Kylzz84,

 

Thank you for your enquiry. In order to be gainfully employed you need to be working more then 10hrs per week. However having said this you are not completely unemployed as you are working for someone. You may meet the 20% reduction of working hours eligibility under Early access to your super. 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 this does not answer your enquiry, we will likely have more info on this soon so please keep an eye on our forum and website, etc.


Hope this helps.

 

Regards,

Jodie2.

3 REPLIES 3

Champion

Replies 0

To get your super released early you must meet 1 of these eligibility requirements:
be in severe financial hardship.
have a terminal illness.
be a temporary resident.
have less than $200 in your super fund.
meet compassionate grounds.

Most helpful response

ATO Community Support

Replies 1

Hi @Kylzz84,

 

Thank you for your enquiry. In order to be gainfully employed you need to be working more then 10hrs per week. However having said this you are not completely unemployed as you are working for someone. You may meet the 20% reduction of working hours eligibility under Early access to your super. 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 this does not answer your enquiry, we will likely have more info on this soon so please keep an eye on our forum and website, etc.


Hope this helps.

 

Regards,

Jodie2.

Newbie

Replies 0

Thank you. Thats a big help. 😀