Accounting & Tax Audit Finance Financial Planning Self Managed Super

Last chance to access COVID-19 early access to super

31 December 2020 is the last day you can apply to access your superannuation early under the COVID-19 early access measures. The ATO has warned that those wanting to access their superannuation pre-Christmas will need to complete the application by 11 December 2020.

The ability to access up to $10,000 of your super is available to those that have been made redundant, have had their working hours reduced by more than 20%, and have been adversely financially impacted by COVID-19. If you are not in financial hardship you should not access your superannuation. The application process through myGov is a self-assessment process that you are responsible for. Penalties of up to $12,000 may apply for providing false or misleading information.

Latest

News

The one big, beautiful bill that may not be so beautiful for Aussies

You may have seen the viral headline about a new U.S. tax bill called the One Big Beautiful Bill, b ... read more

Trust funds: are they  still worth the effort?

For decades, trust structures have been a cornerstone of the Australian tax and financial system, p ... read more

Finfluencers: bad tax advice could cost you

They’re advising from your insta and TikTok feeds, they’ve got huge followings, they speak with ... read more