The Department of Human Services (DHS) announced that applications for early release of superannuation on compassionate grounds can now be lodged through the myGov system.
“You can apply securely and conveniently for early release of your superannuation using your Centrelink online account through myGov,” said DHS.
myGov is the government system allowing individuals to access government services online, including Centrelink, the ATO and Medicare.
“Superannuation savings are meant for retirement, so access to them is restricted. However, in limited circumstances you can apply for early release of your superannuation.”
Superannuation can be released early on a number of compassionate grounds, including:
- for medical or dental treatment for an individual or a dependant, including transportation for treatment
- to prevent their home from being sold by the holder of the mortgage
- to modify the home for the needs of a severe disability of the individual or their dependant
- to pay for palliative care for the individual, or their dependant, with a terminal medical condition
- to pay for expenses relating to a dependant’s death, funeral or burial.
“An early release of superannuation must be necessary, and we will only release the minimum amount you require to pay for a specific expense. You must show that you cannot pay for the expense any other way, such as using other savings or assets,” said the DHS.
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