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).