Super is to provide you with an income in retirement and is a long-term investment
Government restrictions mean most people can only access their super when they retire. However, there are several situations where you may be able to access some or all of your super early.
Sometimes the unexpected happens and you might need your super on compassionate grounds or because of severe financial hardship.
From age 55, you can also access some of your super while you're working with a transition to retirement strategy. This strategy may help you grow your super and reduce your income tax or work less hours.
Temporary residents departing Australia
If you’re a temporary resident permanently leaving Australia, you can apply to access your super early.
To receive your super, you must:
have been in Australia on a temporary visa (excluding subclasses 405 and 410)
- have already left Australia
- be the holder of an expired or cancelled visa.
If you're eligible, you can apply for early release of your super online through the Australian Taxation Office website. You can apply before you leave Australia.
New Zealand citizens aren't entitled to access their super early. That's because the Australian and New Zealand governments have an agreement in place to allow the transfer of superannuation in an Australian fund to the New Zealand superannuation system.
Have you been in Australia on a working holiday?
If you’ve been in Australia on subclass 417 or 462 visa, any super you access early will be taxed at 65%. This tax applies to your whole super balance, including any super that went into your account while you were working under a different visa (if applicable).