answered
Q: I currently have my superannuation with REST. I am not working at the moment and am on Centrelink benefits. I was looking at early release of super due to severe financial hardship as I qualify, however REST do not grant access due to this & I do not qualify for compassionate hardship.
I am wondering is it possible to open a new super fund (one that does allow early release of super due to financial hardship), transfer some of my super from REST into that & then apply for early release?
A: Thank you for your answer,
Is it possible to open a super fund without any employer contributions going into it, and then transfer a portion of my existing super fund to the new one?
And I am 32 - what would the tax be like? I have been warned that if I want to withdraw $10,000 it will most likely be closer to $8,000 after tax.
Penny
question
Q: I currently have my superannuation with REST. I am not working at the moment and am on Centrelink benefits. I was looking at early release of super due to severe financial hardship as I qualify, however REST do not grant access due to this & I do not qualify for compassionate hardship.
I am wondering is it possible to open a new super fund (one that does allow early release of super due to financial hardship), transfer some of my super from REST into that & then apply for early release?
