How much superannuation can I withdraw?
You can withdraw up to $20,000 from your superannuation accounts, in 2x $10,000 amounts.
When can I withdraw my superannuation?
The first $10,000 amount must be accessed before 1st of July 2020 (ie, within the 2019-20 financial year). The second $10,000 amount must be accessed between 1st of July 2020 and 24th September 2020 (ie: within the 2020-21 financial year).
Do I need to be unemployed to withdraw my super?
No, unemployment is only one of the criteria options. If you were made redundant or had your hours reduced by 20% or more, after 1st January 2020, you may also be eligible to access your superannuation.
What if I am a sole trader / contractor?
If you work under a sole trader / contractor arrangement you may also be eligible to access your superannuation. If your business has been suspended or you have seen a greater than 20% reduction of your turnover, since 1st of January 2020, you will also be eligible to access your superannuation.