SMSF Trustee Issues with COVID 19 Early Access to Superannuation

The Government is allowing individuals affected by the COVID-19 pandemic to access up to $10,000.00 of their superannuation benefits in 2019/20 and up to a further $10,000 in 2020/21. This articles covers the eligibility criteria, the application process, and the action that needs to be taken by super fund trustees on receiving the ATO determination. Although quite a simple process, the early access to superannuation provisions do contain some traps.


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