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willbec
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Female
Number of posts : 40
Age : 35
Location : North Qld
Registration date : 2017-03-18

PostSubject: Re: Early Access to Super Process   Sat 01 Apr 2017, 1:48 pm

Hi Itsallhappening, not sure if you've already finished the early release process but Box of Jewels is right on the money. They take the tax on top of the amount you want released from super. For example I withdrew just over $12,000 and was taxed $3,300 (22%) so I ended up losing almost $15,500 out of my super all up. I'm wondering now if I'll end up getting the $3,300 back in my next tax return though since I haven't worked this past financial year.
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hyacinthus
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Male
Number of posts : 10
Age : 34
Location : Melbourne
Registration date : 2017-02-02

PostSubject: Re: Early Access to Super Process   Sun 26 Mar 2017, 11:18 pm

Hey Sydney Guy!

That's such good news. Yes I think most people stress over the process more than necessary.

Just a heads up about the process from here. Youll obviously need to submit to your super fund(s) and they will probably tell you it will take up to 15 days to process. Try not to be worried about that. One of my funds (IOOF) told me that they need to wait to 'sell' your investments (eg shares) first then they can transfer to your bank account. I ;pushed back on that a little and told them it was for urgent medical expenses and they said they would pay out 70% first then once the shares had sold they would do the remaining. I submitted the withdrawal form on the 17th and received an email from them on 24th saying that my investments had been sold and the final part was ready to be withdrawn. I expect that will hit my account in the next 24 hours.

So after submitting two withdrawal requests with two different funds, I will have all the required money in my account with 7 business days. †Try not to worry about it. It will happen and if you have a month youll be totally fine. Even if you have to pay for your surgery two weeks before like most surgeon request, youll still be fine for time - I'm certain of it!
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SydneyGuy
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Number of posts : 2
Location : Sydney
Registration date : 2017-02-08

PostSubject: Re: Early Access to Super Process   Sun 26 Mar 2017, 8:50 am

hyacinthus wrote:
SydneyGuy wrote:
I am going through the process of lodging online through MyGov. Its been tricky to get my CRN and many calls to centrelink but finally got it sorted.†
My surgery is booked for end of April 2017

Just a quick question, did your surgeon and Gp only fill out the Early Release of Superannuation on Compassionate Grounds form on the human services website? or did they have to write an actual report as well as fill out that online form?

Hey SydneyGuy,

I know what you mean - it's pretty confusing as the forms and 'report' seem to cover exactly the same information.
I queried this with my surgeon's office and they confirmed the forms OR report will suffice. They just did the form for me.

Hope that helps!!
haha I was losing sleep over it. My GP did the DHS form and my surgeon submitted a report and I have been approved. †I have my surgery in exactly one month!
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Box of Jewels
Part of the furniture
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Female
Number of posts : 637
Location : Nth Qld
Registration date : 2015-01-14

PostSubject: Re: Early Access to Super Process   Tue 28 Feb 2017, 9:19 pm

I think the department will take that tax part out of your super too and pay it.
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Itsallhappening
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Female
Number of posts : 7
Location : Brisbane
Registration date : 2017-02-27

PostSubject: Re: Early Access to Super Process   Mon 27 Feb 2017, 2:41 am

I am new to all of this but I was wondering if I go down the path of getting an early release from my super I was advised that I would be taxed on the amount of funds released. Being the Sleeve would be about $24000 and at a rate of maybe 30% tax will be $7200 of a tax bill!! Am I on the right path or not?
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hyacinthus
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Number of posts : 10
Age : 34
Location : Melbourne
Registration date : 2017-02-02

PostSubject: Re: Early Access to Super Process   Tue 21 Feb 2017, 3:31 am

SydneyGuy wrote:
I am going through the process of lodging online through MyGov. Its been tricky to get my CRN and many calls to centrelink but finally got it sorted.†
My surgery is booked for end of April 2017

Just a quick question, did your surgeon and Gp only fill out the Early Release of Superannuation on Compassionate Grounds form on the human services website? or did they have to write an actual report as well as fill out that online form?

Hey SydneyGuy,

I know what you mean - it's pretty confusing as the forms and 'report' seem to cover exactly the same information.
I queried this with my surgeon's office and they confirmed the forms OR report will suffice. They just did the form for me.

Hope that helps!!
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SydneyGuy
Newbie


Male
Number of posts : 2
Location : Sydney
Registration date : 2017-02-08

PostSubject: Re: Early Access to Super Process   Thu 16 Feb 2017, 6:30 am

I am going through the process of lodging online through MyGov. Its been tricky to get my CRN and many calls to centrelink but finally got it sorted.†
My surgery is booked for end of April 2017

Just a quick question, did your surgeon and Gp only fill out the Early Release of Superannuation on Compassionate Grounds form on the human services website? or did they have to write an actual report as well as fill out that online form?
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valebrook
Newbie
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Female
Number of posts : 18
Age : 36
Location : Brisbane
Registration date : 2015-12-02

PostSubject: Early release   Mon 07 Dec 2015, 9:55 am

I lodged my application last night online.

Seemed easy enough, until I have to load my documents.

All good now though. wooo hooo
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Carissa5984
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Female
Number of posts : 89
Location : Brisbane
Registration date : 2015-10-31

PostSubject: Re: Early Access to Super Process   Mon 07 Dec 2015, 8:43 am

This is the form that my GP filled in:

http://www.humanservices.gov.au/customer/forms/mo017

My surgeon had typed out his own letter which covered everything DHS may need it seems... seemed pretty stock standard for what everyone gets.

As for the lines at Centrelink, I went in one Friday when the website was down and was only waiting for about 10-15mins. Much better than the last time I was in Centrelink donkey years ago! Things have improved!

I'm still waiting for my approval and I put mine in on the 27/11/15.

Good Luck!
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marjo
Newbie


Female
Number of posts : 49
Location : victoria
Registration date : 2015-12-07

PostSubject: Re: Early Access to Super Process   Mon 07 Dec 2015, 8:20 am

Could anyone please point me in the direction of where on the centrelink website I can find the forms to fill in. I have waited all weekend to be able to access the website as it was down and now I cant find where the forms are .... frustrating. Any help would be appreciated. Have had my appointment with surgeon and GP have all the paperwork I need, I just need to fill in the forms. Thank you
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Clarebear
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Female
Number of posts : 35
Age : 48
Location : Gold Coast
Registration date : 2015-10-17

PostSubject: Re: Early Access to Super Process   Mon 07 Dec 2015, 6:19 am

Hi Nogi

I found the process very confusing to start with to.

So first you need a my gov and centrelink number which needs to be linked , if you have already applied on line then you have probably done this already .

You need to attach the form from your GP and the completed form from your surgeon .

Once this is all done the processing time may take up to around 4 weeks for the DHS to send you the letter. It sometimes appears in your my gov account inbox before your actual email address.
Once you receive this letter you need to complete the super release form from your super and send the DHS form to them, I had mine in 3 days but depends on who you are with†

If you've done all this stages and it's been a few weeks then maybe contact them†

For more information on early release of superannuation call us between 9 am and 5†pm Australian Eastern Standard Time, Monday to Friday on†[url=tel:1300 131 060]1300 131 060[/url]†or
[url=tel:+61 3 6222 2189]+61 3 6222 2189[/url].
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valebrook
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Female
Number of posts : 18
Age : 36
Location : Brisbane
Registration date : 2015-12-02

PostSubject: Hope this helps   Sun 06 Dec 2015, 11:53 pm

Found this on DHS website - This is the number I called when I had questions on how to apply

Contact us for information on early superannuation
For more information on early release of superannuation call us between 9 am and 5†pm Australian Eastern Standard Time, Monday to Friday on 1300 131 060
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