The ATO can approve a release for medical and dental treatment, including surgery, IVF, mental health treatment and treatment overseas, when it is needed to treat a life-threatening illness or injury, or to alleviate acute or chronic pain or acute or chronic mental illness, and is not readily available through the public system. Cosmetic or elective procedures usually do not qualify.

Yes, for a dependant. The ATO treats as your dependant your spouse or de facto partner, your child under 18, a person in an interdependency relationship with you, or a person who is substantially financially dependent on you. A child aged 18 or over, or another relative, needs evidence of dependency.

You can apply for the unpaid cost of your eligible treatment, up to your available super balance. If you can pay part of the cost from savings or another source, you apply for the remainder. Our fee is paid separately and is not released from your super.

Before applying for early release of your super, Access My Super recommends consulting with an independent financial adviser. Once you’ve done that, get in touch with our team.

Yes, your insurance cover may be affected if you apply for the early release of super. Contact your super fund for details of how cover will be impacted before deciding whether you want to access your super early.

When you receive superannuation on compassionate grounds, it’s treated and taxed the same way as a standard superannuation lump sum payment. The amount of tax you’ll pay depends on several key factors:

Tax Factors That Apply:

• Your current age when you receive the payment

• Your preservation age (typically 60 for most Australians)

• The different components within your superannuation (tax-free and taxable portions)

• Exact rates depend on your circumstances and super components

• Early access to superannuation is generally counted as assessable income for tax purposes

Consult your super fund or tax professional for your specific tax liability before applying.