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  • Access due to severe financial hardship

    You may be able to withdraw some of your super if you received government income support payments continuously for 26 weeks and are unable to meet reasonable and immediate family living expenses.

    A super withdrawal due to severe financial hardship is paid and taxed as a super lump sum.

    The minimum amount that can be paid is $1,000 (unless your super balance is less than $1,000) and the maximum amount is $10,000.

    You can only make one withdrawal from your provider because of severe financial hardship in any 12-month period.

    There are no cashing restrictions under severe financial hardship if you have reached your preservation age plus 39 weeks, received government income support payments for a cumulative period of 39 weeks and you were not gainfully employed on a full-time or part-time basis at the time of application.

    How to apply

    Contact your provider to request access to your super due to severe financial hardship.

    Services Australia can provide a letter confirming you received an eligible income support payment for the required period.

    See also:

    How tax applies

    There are no special tax rates for a super withdrawal because of severe financial hardship. It is paid and taxed as a normal super lump sum. If you are under 60 years old, this is generally taxed between 17% and 22%. If you are older than 60 years old, you will not be taxed.

    See also:

      Last modified: 08 Jan 2020QC 60034