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Tax implications for the Early Release of Super under Compassionate Grounds

October 5, 2021admin

Tax implications? If you’re aged under 60, the amount released under compassionate grounds will be taxed between 17% and 22%. The lump-sum paid will usually be made up of taxable and non-taxable components. However, if you’re over 60, the early…

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    Important Disclaimer:
    This information is general in nature and doesn’t constitute financial or medical advice. Compassionate release eligibility is determined solely by the Australian Taxation Office based on individual circumstances and medical evidence. Success in previous applications doesn’t guarantee future approvals. We recommend consulting with qualified financial and medical professionals before making decisions about accessing your superannuation.

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