Early release of superannuation

Government proposes “refinements” to superannuation early access rules

The Government is consulting on draft changes to the early access to superannuation rules, following from a review. Late in 2017 the Government started a review into the early access rules. The Government has now released draft proposals in response to some of the issues raised. The Government seemingly found… Read More »Government proposes “refinements” to superannuation early access rules

Domestic violence victims to be allowed early access to their super

The Government intends to allow domestic violence victims to access their own superannuation to meet “unexpected costs”. Under the Government plan – the Women’s Economic Security Package, announced alongside the Women’s Economic Security Statement – victims of domestic and family violence would be able to apply to withdraw up to $10,000… Read More »Domestic violence victims to be allowed early access to their super

Compassionate early release of super moving to ATO on 1 July 2018

Responsibility for administering the early release of superannuation on compassionate grounds is set to move from the Department of Human Services (DHS) to the ATO, from 1 July 2018. The Government said this would improve the early release of superannuation by ensuring applicants received funds sooner. “These changes will expedite… Read More »Compassionate early release of super moving to ATO on 1 July 2018

Government considers two options to allow victims of crime access to super

The Government is consulting on two different models allowing victims of crime to access the superannuation of perpetrators. The first model would create a claw-back mechanism for ‘out of character’ superannuation contributions. Under the proposal a victim of crime with an unpaid compensation order could apply for a court order… Read More »Government considers two options to allow victims of crime access to super

Government working on legislation to give victims of crime access to super

The Government is working on legislation to allow victims of crime to access superannuation, though the legislation may not pass in 2018, while consulting further on other changes to the early release of super rules. Minister for Revenue and Financial Services Kelly O’Dwyer has confirmed the Government will allow victims… Read More »Government working on legislation to give victims of crime access to super

Government to review early release of super: victims of crime, compassion, hardship

The Government has officially announced a review of early release of superannuation. This includes a review of the rules around early release of superannuation on financial hardship or compassionate grounds. The review will also consider if and how superannuation should become available to pay compensation or restitution to the victims… Read More »Government to review early release of super: victims of crime, compassion, hardship