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How Can I apply for release of super on compassionate grounds for medically required plastic surgery?

There are several medical plastic and reconstructive surgery procedures that may qualify for early release of superannuation on compassionate grounds for unpaid expenses, where you have no other means of paying for the expense.

What are the first steps should I take? 

You should take some important steps to find out more about this process including:

1. making contact with your superannuation fund to understand if this is an option, what fees may apply, what balance is available and what tax and insurance implications early access may have?
2. Seek financial advice before doing anything, there may be other more preferable options to apply for finance.

Once the super is withdrawn how will it be taxed?

You will need to pay tax on super withdrawals and the rate depends on factors such as your age and the components of the super lump sum. Your super fund will automatically deduct the tax from your super account at the time it is withdrawn

For medical treatments what reports are required for the application?

You must submit two independent medical reports:

• one from a registered medical specialist
• one from either a registered medical practitioner or specialist eg. general practitioner

Allied professionals, such as physiotherapists, psychologists and podiatrists are not considered as medical practitioners/specialists.

For medical plastic surgery the report is typically for treatment that alleviates acute or chronic pain that is not readily available or requires extended waiting times in the public health system. Medical practitioner reports must be completed, signed and dated less than six months before you submit your application. 

Next steps: How to apply? 

Once you have discussed this with your super fund and financial advisor and you are sure you wish to proceed with this option, you should read more about this process via the ATO website here or speak to our team for guidance about this process. Compassionate release of superannuation – Report by registered medical practitioner form can also be downloaded here. 

• Section A must be completed by the applicant.
• Sections B to F must be completed by the registered medical practitioner or specialist.

Where can I apply for early release of superannuation on compassionate grounds?

Once you have completed your forms and collected your evidence you will find the application link in your MyGov account which is linked to the ATO online services.    Select the heading option 'Super' then 'Manage' then 'Compassionate Release of Super'.  Please refer to ATO website here. 

How long will it take for my super to be released once I have applied? 

It can take 14 to 28 days to process your application depending on how you applied.  Online applications will be quicker and take approximately 14 days to process and determine your eligibility. You will receive an SMS reminder once the outcome has been determined and the letter will be sent securely to your MyGov app regarding the final decision.