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

How to sell your business

We’re often asked the best way to sell a business. There are two key components at play in the sa ... read more

Sole Trader Granted Access To JobKeeper With Backdated ABN

A sole trader who was able to backdate his ABN has won access to JobKeeper payments in a recent cas ... read more

Winding-up: Simplifying small business insolvency

On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring an ... read more