Did anyone manage to get their Super out when they left Oz??
Oct 1st 2009, 1:31 am
#31
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Joined: Jul 2007
Location: Brisbane
Posts: 2,949
Re: Did anyone manage to get their Super out when they left Oz??
People who live outside Australia *can* make a "hardship" application. The ATO will make their decision based on the evidence provided.
But the super fund can only release payments if the ATO defintion/rules have been met. ATO rules etc here: http://www.ato.gov.au/superprofessio...t/00108369.htm
But the super fund can only release payments if the ATO defintion/rules have been met. ATO rules etc here: http://www.ato.gov.au/superprofessio...t/00108369.htm
Severe financial hardship
To be eligible for this condition of release, you must have received Commonwealth income-support payments continuously for 26 weeks and be unable to meet reasonable and immediate family living expenses.
Only one lump-sum payment can be made in any 12 month period. The minimum amount that can be paid is $1,000 (unless your super interest is less than this amount) and the maximum amount is $10,000.
You will need to approach your super fund for further information about your eligibility for this condition of release.
http://www.ato.gov.au/individuals/co...t/00185321.htm
If you don't meet these requirements then you can't withdraw under "hardship" it must be compassionate or terminal illness or TPD.
