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Early access of your super

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We understand that sometimes in life your finances can get on top of you.

If you need to access your super early due to financial hardship or compassionate grounds, BUSSQ can help you with the appropriate paperwork that is required to meet the Government legislation for the early release of your super.

The following criteria applies for early access of your super:

Financial Hardship

Withdrawal of a maximum of $10,000 before tax (if you have this much available in your account).

To qualify you have to:

  • have been on Newstart or another income support payment for 26 weeks, and
  • prove that there are outstanding debts and/or that income is less than living expenses.

To apply you need to:

  • obtain a Q230 letter from Centrelink or give us permission to verify your payments electronically,
  • be able to prove that you are unable to meet immediate living expenses, pay for bills and debts, and
  • call us on 1800 692 877 and make a claim over the phone, or complete an Application for Early Release of Benefit form and return it to us with your supporting documents.

If your debts are to family or friends, then we require a statutory declaration stating the loan amount, reason and repayment arrangements, as well as proof that the money was loaned such as bank statements or receipts.

Different conditions may apply if you are over your preservation age, or if you receive a pension from the Department of Veterans Affairs.

Compassionate Grounds

You can generally claim as much as you can prove that you need. You need to apply through the Australian Taxation Office (ATO) by calling 13 10 20.

To access your super on compassionate grounds you will need to apply through the Department of Human Services (DHS) based on one of the following compassionate grounds:

  • To pay for medical or dental treatment, or transport to receive medical or dental treatment for yourself or a dependant
  • To pay for the palliative care of yourself or a dependant
  • To pay for a dependant’s funeral
  • To prevent the loss of your permanent place of residence due to mortgage foreclosure
  • To pay for modifications to your home or vehicle required due to you or one of your dependants developing a disability

The amounts that can be released for each of these grounds vary, and additional conditions may apply.

For more information call the ATO on 13 10 20 or visit ato.gov.au.

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