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SUPERANNUATION
CONDITIONS OF RELEASE
SUPERANNUATION FUND'S TRUST DEED
Conditions of release are governed by the rules set out in the super fund’s trust deed.
RETIREMENT
< 65 Occurs when an arrangement under which they were gainfully
employed ceased and the member does not intend to be employed either
full or part time in the future. Working < 10 hours per week would
be acceptable.
ATTAINING THE AGE OF 65
May cash benefits at any time.
BENEFITS < $200
May cash at any time.
PERMANENT INCAPACITY
May cash at any time
TEMPORARY INCAPACITY
May only cash insurance or voluntary employer benefits.
SEVERE FINANCIAL HARDSHIP
Can not meet reasonable and immediate family living expenses.
Has been receiving government support for 26 weeks.
Restricted to $10,000 in 12 month period.
COMPASSIONATE GROUNDS
TEMPORARY RESIDENT VISA
i) You may access your superannuation if your temporary resident visa has expired or has been cancelled and you have left Australia
ii) You are not able to claim a DASP if you are a permanent resident of Australia or a citizen of Australia or New Zealand
TAX RATES
i) Taxable Component - 38%
ii) Tax-free Component - 0%
Google ATO Conditions of release
DISCLAIMER
We have clients from the following locations:
Brisbane, Albion, New Farm, Teneriffe, Newstead, Windsor,
Wilston, Bowen Hills, Wooloowin, Herston, Lutwyche, Hamilton, Eagle
Farm, Gordon Park, Fortitude Valley, Clayfield, Ascot, Hendra.
Morayfield, Burpengary, Caboolture, Bellmere, Wamuran, Narangba,
North Lakes, Mango Hill, Kallangur, Dakabin, Deception Bay, Bribie
Island, Elimbah, Kippa-Ring.
We do tax returns for individuals, trusts, companies, partnerships, contractors, ABNs and
sole traders.
The information provided in the above documents is not intended to
be, nor should it be construed as tax advice. Any specific
recommendation for a client can only be done after their individual
circumstances have been determined by David Douglas Accountants.
Liability limited by a scheme approved under Professional Standards legislation