If you’ve been financially affected as a result of COVID-19, you now have more time to access some of your super.
Applications for COVID-19 early release of super have now been extended to 31 December 2020.

**Eligibility

To be eligible, a citizen or permanent resident of Australia and New Zealand must require the COVID-19 early release of super to assist them to deal with the adverse economic effects of COVID-19.

In addition, one of the following circumstances must apply:

  • you are unemployed
  • you are eligible to receive one of the following
    • JobSeeker payment
    • Youth Allowance for job seekers (unless you are undertaking full-time study or are a new apprentice)
    • Parenting payment (which includes the single and partnered payments)
    • Special Benefit
    • Farm Household Allowance
  • on or after 1 January 2020 either
    • you were made redundant
    • your working hours were reduced by 20% or more (including to zero)
    • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more (partners in a partnership are not eligible unless the partner satisfies any other of the eligibility).
Remember ???? You can still only apply once in this financial year. Check if you’re eligible at below.
Early Release of Super