COVID-19 early release of super

Eligibility

To be eligible, a citizen or permanent resident of Australia or New Zealand must require the COVID-19 early release of super to assist them to deal with the adverse economic effects of COVID-19.

In addition, one of the following circumstances must apply:

• you are unemployed
• you are eligible to receive one of the following
  • JobSeeker payment
  • Youth Allowance for job seekers (unless you are undertaking full-time study or are a new apprentice)
  • Parenting payment (which includes the single and partnered payments)
  • Special Benefit
  • Farm Household Allowance
• on or after 1 January 2020 either
  • you were made redundant
  • your working hours were reduced by 20% or more (including to zero)
  • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more (this can be either before or after GST provided you include or exclude GST for both your pre and post calculation) – partners in a partnership are not eligible unless the partner satisfies any other of the eligibility.

Temporary residents are not eligible to apply for a COVID-19 early release of super in 2020–21. If your visa has expired and you have left Australia, you may be eligible for the Departing Australia superannuation payment (DASP).