Access to super less than $200

You may be able to access your super if you change employers and the balance of your super account is less than $200, or if you have lost super held by a super fund or by us that is less than $200.

See also:

How to apply

Contact your super fund to request access.

How tax applies

No tax is payable when accessing super accounts with a balance less than $200.

Rollover or transfer of super benefits

Super benefits may, in certain circumstances, be rolled over or transferred within the super system rather than cashed out. Subject to the rules of your fund, benefits may be directly transferred from one complying fund to another complying fund.

You can choose to rollover your super to consolidate multiple super funds. This allows you to keep track of your super more easily and reduces the amount of fees and charges you incur.

Consider all relevant information before deciding to rollover your super. Ask your super fund about any fees or charges that apply, any loss of entitlements (eg life insurance) or any other information about the effect this transfer may have on your super benefits. Also consult the receiving super fund to make sure they accept a rollover of benefits.

No tax is payable on the amount rolled over to another fund until you choose to withdraw your super.

If a benefit is paid directly to you prior to being paid into another super fund, the payment is considered to be outside the super system and is treated as a super benefit rather than as a rollover and tax may apply.

The preservation rules still apply to benefits that are rolled over to another complying super fund. This means benefits can only be accessed once you meet a condition of release.

Your super money may be rolled over to another fund without you making a request – these are called involuntary rollover super benefits and may occur when two funds merge or due to a successor fund transfer.

How to apply

Whole of balance transfers can be requested by:

Completing the rollover/transfer request using ATO Online Service displays a full view of your super accounts and removes the need for you to provide proof of identity documents to your fund.

The forms provide most of the mandatory details a super fund needs to arrange the transfer and can be lodged online or by paper. In some instances the fund may contact you to verify information provided or to seek additional information before processing the request.

Partial transfers can only be requested directly with the fund.

How tax applies

A rollover super benefit is not assessable. Don't include it on your tax return as income. The tax treatment of the rollover benefit will arise when you access the benefit from the receiving fund.

If you have a rollover super benefit consisting wholly or partly of an untaxed element that exceeds the untaxed plan cap amount, the paying super fund will withhold the tax payable on the excess amount.

    Last modified: 01 Sep 2016QC 37785