Technical Bulletin:

Accessing benefits process and SMSF investment relief

Early access to Superannuation

• They must be unemployed; or

• They must be eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or

• On or after 1 January 2020:

○ they were made redundant; or

○ their working hours were reduced by 20 per cent or more;

○ if they are a sole trader — their business was suspended or there was a reduction in their turnover of 20 per cent or more.

APPLICATION PROCESS:

my.gov.au

Note:

WARNING:

Temporary rent reduction

In-house asset restrictions

• an investment in a related party of the fund;

• an investment in a related trust (exclusions apply for certain non-geared trusts that hold property and trusts that were established prior to 12 August 1999);

• loans to related parties (excluding loans to members and relatives which are prohibited); and

• assets subject to a lease, or lease arrangement to a related party, other than collectable and personal use assets as identified in the SIS Regulations.

MUST

• Plan unable to be executed because the market had not recovered; or

• Plan unnecessary to be implemented due to market recovery i.e. asset now below 5%.

WARNING:

here