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{"id":203,"date":"2020-03-31T05:18:18","date_gmt":"2020-03-31T05:18:18","guid":{"rendered":"http:\/\/54.252.250.103\/?p=203"},"modified":"2021-02-08T02:02:25","modified_gmt":"2021-02-08T02:02:25","slug":"international-students-early-access-to-super-faqs","status":"publish","type":"post","link":"https:\/\/www.expertaccountants.com.au\/2020\/03\/31\/international-students-early-access-to-super-faqs\/","title":{"rendered":"Early access to super FAQs"},"content":{"rendered":"\n

Q: I am an international student, am I eligible to apply for early\naccess to super?<\/em><\/strong><\/p>\n\n\n\n

A: Yes, at this stage, temporary residents and international students who has been more than 12 months are eligible to apply for early access tPlease follow the link below https:\/\/www.ato.gov.au\/Super\/APRA-regulated-funds\/In-detail\/APRA-resources\/Coronavirus—early-release-of-superannuation-industry-consultation-24-March-2020\/?fbclid=IwAR1xUWHPLGUvHPmOgspGCH_sRNLs4uH5Y7yzz7-aBdA8mT63lfO9BFpMRx8 <\/a><\/p>\n\n\n\n

<\/p>\n\n\n\n

Q: How much fund can we access?<\/em><\/strong><\/p>\n\n\n\n

A: Given you have enough balance in your fund, you can\naccess as much as $ 10,000 by this financial year (i.e. 30 June 2020).\nFurthermore, by 1st<\/sup> July, you can access up to additional $ 10,000\ngiven there is remaining balance in your fund.<\/p>\n\n\n\n

Q: How much tax is deducted when we access the fund?<\/em><\/strong><\/p>\n\n\n\n

A: No tax is payable in these funds when withdrawn and it\nwill also not affect Centrelink or Veterans\u2019 Affairs payments, if anyone falls\nunder this. <\/p>\n\n\n\n

Q: When can I apply?<\/em><\/strong>    <\/p>\n\n\n\n

A: You will be able to apply from 20 April 2020 onwards. <\/p>\n\n\n\n

Q: How do I apply?<\/em><\/strong><\/p>\n\n\n\n

A: In order to access the super, you need to set up myGov\naccount http:\/\/www.my.gov.au\/<\/a>\n. If you have already done so, you need to wait until further instruction by\nthe Government. <\/p>\n\n\n\n

Q: Do I need to apply separately to my super fund too?<\/em><\/strong><\/p>\n\n\n\n

A: No, once you apply, ATO will issued you with a\ndetermination.  Then after, ATO will also\nnotify your relevant superfund to release the fund directly to you.<\/p>\n\n\n\n

Q: Is there any eligibility criteria to the access?<\/em><\/strong><\/p>\n\n\n\n

A: Yes, in order to be eligible for early access to super, ANY<\/strong> of the below conditions need\nto be met:<\/p>\n\n\n\n