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Did you take your super even tho you didn’t qualify

Answered 2 years ago

I’m tempted


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ANSWER
2 years ago
We haven't had to and we probably won't have to. If we did, then I'm sure we'd make sure we qualified first

Replies

REPLY
2 years ago
Just sucks I see so many people who were already on the dole getting extra money and just pissing it up against the wall , yes I’m lucky I’m still working but geez it would help

REPLY
2 years ago
Try not to care what others are doing .. it’s a bad way to live

ANSWER
2 years ago
What do you want it for ?
Every $1000 you lose $300 future money

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REPLY
2 years ago
Pay out personal debt

REPLY
2 years ago
Thats reasonable. You'll be better off not paying interest if you pay it off. Try to put your regular debt payment amount back into super when you cam afford it.

REPLY
2 years ago
That’s what I was thinking or putting the extra onto the mortgage

ANSWER
2 years ago
Just putting it out there do what you will, but if you break the rules you will be caught.

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REPLY
2 years ago
^ This

ANSWER
2 years ago
We both did. He's on jobkeeper and I've had to reduce my hours as grandparents couldn't look after our children. It all happened in differing time frames.

Please everyone, just PLEASE stop judging others and their situations!!!!

It's their money and will affect their future. Yes, they may have to work additional years then when others are retiring but guess what??? If it keeps their bills out of arrears and their kids in sports then put it out of your mind!!!

These are very terrifying times and we don't know what to expect!!

Be kind!!

I'm sick of high and mighty bitches!!

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REPLY
2 years ago
Yes, but OP is saying she dosnt need it, she’s just thinking of taking it anyway.

REPLY
2 years ago
Yeah op doesn’t need it and doesn’t qualify

REPLY
2 years ago
Then karma is gonna come bite her in the ass

REPLY
2 years ago
Why does it bother you so much what other people are doing?
It's not your business.

REPLY
2 years ago
^ When people respond to a post, they're making it other peoples business. Maybe them wanting to know is none of your business. If they don't want others to know, they don't need to answer. Simple

REPLY
2 years ago
You'd think so right? I mean, this is a public forum afterall

REPLY
2 years ago
Lol

ANSWER
2 years ago
What we found out through a friend is because it's technically hardship money any loans in the near future get turned down because they see you're "in hardship" pulling that money out

ANSWER
2 years ago
I am waiting for mine to hit my account. I don’t mind spending my kids inheritance, a physic told me I won’t live past 60 anyway

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REPLY
2 years ago
I am 42

REPLY
2 years ago
Psychic.
And they arent real but whatever.

REPLY
2 years ago
^^ Yes they are - I knew you were going to say that 🤣

REPLY
2 years ago
lol

ANSWER
2 years ago
You cant get away with it, once you lodge your tax return you’ll be fkd.

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REPLY
2 years ago
Its not part of your tax return. Has no impact on it whatsoever

REPLY
2 years ago
If you withdraw without it being a legit covid19 reason, it WILL be added to your taxable income and you could also receive a fine. The scheme is not without consequences if you don't follow the rules

REPLY
2 years ago
It is part of your tax return, once you lodge your return, if your income hasnt reduced by 30% and you took money out of your super you will have to pay tax on that amount (about $3000, if you took $10000) and possibly be fined too for providing fraudulent infomation.

REPLY
2 years ago
Omg educate yourself before sprouting. You do not have had to have an income reduced by 30 percent to be eligible!

Read the eligibility requirements

REPLY
2 years ago
That's a stupid method. Our yearly income didn't drop 20% but at the time of pulling it out it had. I don't think that's how they'll be working it out. They have access to payslips so will probably just verify against that to check eligibility at the time of pulling it out. Our whole year didn't drop 20% but at the time of pulling it that month we had lost 20% .

REPLY
2 years ago
My dad retired and withdrew it all as lump sum just before this all happened and was hit heavily with tax, so yes it must be taxable income.
However good move on his part as so many people lost so much in super when covid hit us, so he's lucky there!

REPLY
2 years ago
For covid release it's not taxable. They've made that abundantly xlear

ANSWER
2 years ago
I withdrew, I lost income. Helped for a week because after fees i had very little left. Each to their own. If you need it you need it. Just dont waste it on junk lol

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REPLY
2 years ago
Fees of what? You are not supposed to pay fees withdrawing under covid guidelines

REPLY
2 years ago
Super fees? Or tax?

ANSWER
2 years ago
If you do, you need to do your homework first. Please don't listen to everybody saying its fine because it's not fine for everyone. If you don't qualify, it will cost you more in the end

ANSWER
2 years ago
We took it out but we qualified

ANSWER
2 years ago
Absolutely foolish to access it unless you have no other choice.

ANSWER
2 years ago
Nope. Some of my friends did, both didn’t need it. But they are ‘in hardship’ 🙃😒

ANSWER
2 years ago
Wow go for it...have fun with the repercussions

ANSWER
2 years ago
No

ANSWER
2 years ago
i dont suggest it. Too risky.