COVID-19 early release of super (closed 31 December 2020)
Information about the COVID-19 early release of super scheme which closed on 31 December 2020.
On this page
Overview
The COVID-19 early release of super program closed on 31 December 2020 and applications can no longer be accepted.
Amounts released under COVID-19 early release of super were tax free and do not need to be included in your tax return. The information on this page is provided for reference only.
You may be eligible to access some of your superannuation in limited circumstances. For more information, see Early access to your super.
To keep up to date on our current support measures, see COVID-19.
Statistics
Program report (20 April – 31 December 2020)
The COVID-19 Early release of super report (20 April – 31 December 2020) shows statistics about applications, from 20 April 2020, when the program opened, to 31 December 2020 when the program closed. It includes:
To read the report, see:
Interim report (20 April – 30 June 2020)
The COVID-19 early release of super interim report includes statistics about interest and uptake of COVID-19 early release of super in the 2019-20 financial year. It includes data on requests and applications by:
To read the report, see:
Record keeping
If you accessed your super under COVID 19 early release, you still need to keep records and documents to confirm your eligibility as we may ask you for this information. Examples of evidence to confirm eligibility may include:
- your payslips
- letters, emails or rosters from your employer
- your bank statements
- your business cash flow and turnover records
- website or other public notice confirming that your business closed
- documents confirming your eligibility for relevant government allowances or benefits
- your separation certificate.
Integrity and compliance
The intent of the measure was to support people who were adversely financially affected by COVID-19 and needed help to meet expenses.
However, compliance remains one of our priorities to ensure the integrity of the tax and superannuation systems. If we find that you have applied for COVID-19 early release of super when you were not eligible, we will consider taking further action.
Applied when you are not eligible
You may be required to demonstrate that you were eligible for the measure. If you are unable to provide supporting evidence, we may revoke the determination issued for your application. This means the amount paid to you under COVID-19 early release of super will:
- become assessable income
- need to be included in your tax return and you will pay tax on the released amount.
Information about the COVID-19 early release of super scheme which closed on 31 December 2020.