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Re: Dental work from super

Initiate

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I am a 59 year old female with MS who needs major dental work - approx $52K - all on 4 implants - do I need to wait until I am 60 before I can access these funds without having to pay tax?

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Most helpful response

Devotee

Replies 0

Hi @Kath1960 

 

If you meet a condition of release you can access your super. 

 

As you will see with the temporary or permanent incapacity conditions of release you do not have to wait until you reach preservaton age. You can also access on grounds of Financial Hardship without having to reach 60 but there is an maximum of $10,000.

 

The most common condition of release for someone that has reached perservation age is termination of employemnt and retired.

 

Your preservation age is determined by the date you were born, have a look at the chart on this webpage .. 

https://www.ato.gov.au/super/self-managed-super-funds/paying-benefits/preservation-of-super/

 

Naturally you are in the best positiion to work out if you meet any of the conditions of release.

 

Stay Safe!!

1 REPLY 1

Most helpful response

Devotee

Replies 0

Hi @Kath1960 

 

If you meet a condition of release you can access your super. 

 

As you will see with the temporary or permanent incapacity conditions of release you do not have to wait until you reach preservaton age. You can also access on grounds of Financial Hardship without having to reach 60 but there is an maximum of $10,000.

 

The most common condition of release for someone that has reached perservation age is termination of employemnt and retired.

 

Your preservation age is determined by the date you were born, have a look at the chart on this webpage .. 

https://www.ato.gov.au/super/self-managed-super-funds/paying-benefits/preservation-of-super/

 

Naturally you are in the best positiion to work out if you meet any of the conditions of release.

 

Stay Safe!!