[Spunkrat]

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This post has been edited by Spunkrat: 25/04/2013, 05:42 PM

[Lausii]

I had some released last year. Only a small amount around $500, from memory it didn't impact my payments but I was heavily taxed on it, which I claimed back at tax time. Just make sure you check the forms thoroughly before sending off.

[Purebells]

I am just wondering, how do you go about applying for your super to be released early? I am in the same boat and only have a small amount in one of my super accounts.

[PrincessPeach]

If you can get it, then go for it, however it is incredibly difficult to obtain.

From a taxation point of view, the amount you get paid does need to be included in you income tax return & will impact on the amount you get paid for your family tax payments.

Just as an aside, although you may be able to apply, I've seen very few people actually be approved for this. So just have a back-up plan ready. I saw on another thread that the NAB offer a step-up loan of up to $5,000 for people on centrelink - so that might also be another option as well.

[Lausii]

If you can get it, then go for it, however it is incredibly difficult to obtain.

Wasn't that hard at all? I rang up, they sent the form out. Got the JP to witness my ID and signature. They check with centrelink I had been on payments for more then 26 weeks and I got it. Pretty easy. I also had some released in 2009 and it was just as simple. Both times I had it within 2 weeks of the initial phone call. However there is one company that wouldn't release it, as they don't have the hardship option. Think it was REST?

[PrincessPeach]

Wasn't that hard at all? I rang up, they sent the form out. Got the JP to witness my ID and signature. They check with centrelink I had been on payments for more then 26 weeks and I got it. Pretty easy. I also had some released in 2009 and it was just as simple. Both times I had it within 2 weeks of the initial phone call. However there is one company that wouldn't release it, as they don't have the hardship option. Think it was REST?

OK...I've only ever known it to be given to the terminally ill & I've worked in accounting/tax for 9 years.

[namie]

I applied a few years ago when we had absolutely no money. I was on mat leave and our savings had run out. DP couldn't access any of his overseas savings and we had no idea what we were going to do.

They refused to release any on the grounds that I wasn't terminally ill and there was nothing they could do. I cried on the phone to them because I was so worried; we had no money for rent, bills, food, nothing.

We couldn't get any money from Centrelink because of what DP had overseas but we couldn't access that either. I even said I'd pay it all back once we could access funds but they still wouldn't.

By all means apply, but don't be surprised if they don't release any funds. We ended up having to borrow money from family to get through a few months until we worked out how to expedite sale of overseas assets and begin the dribble of funds into Aus.

[Spunkrat]

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This post has been edited by Spunkrat: 25/04/2013, 05:42 PM

[~nikki~]

I had about 5000 released in order to pay for some surgery and that was a mission!

[mintjoolips]

My good friend found it all quite simple as previous poster said. She had three funds one wouldn't do it, other two released it without hassle.

Sounds like different funds different rules, worth a go for sure!