31 December 2020 is the last day you can apply to access your superannuation early under the COVID-19 early access measures. The ATO has warned that those wanting to access their superannuation pre-Christmas will need to complete the application by mid-December 2020.
The ability to access up to $10,000 of your super is available to those that have been made redundant, have had their working hours reduced by more than 20%, and have been adversely financially impacted by COVID-19. The ATO advise that:
- If you are not in financial hardship you should not access your superannuation;
- the application process through myGov is a self-assessment process that you are responsible for; and
- penalties (of up to $12,000) may apply for providing false or misleading information.