Wednesday 24 September 2014

Applying for $10,000 financial hardship Super release

Have decided, after much thought and after seeing how precisely eligible I appear to be, I'm doing an application for getting $10,000 released out of my superannuation for reason of "Severe Financial Hardship".

This is a payment that is applied for directly to your superannuation fund. I've looked into it a few years back but it's impossible to get if your working. These are the criteria for you to be eligible.


Well I certainly fit all of those. We'd be sort of scrimping by without the credit card payments (seems to be taking ages with this Carers Allowance to be processed) but with them it's impossible. We're doing the credit card merry go round (pay all the money gotten on the card and live off the card) and have easily met the minimum payment for the month that way, but it's not looking too sustainable. We had a couple of bigger things to pay last fortnight and totally blew the Newstarve allowance out of the water :s 

Originally I was thinking why the fuck should I have to use my super money to stay afloat when all this is because of David's work and is currently in process in a discrimination case. But then again, do I really want to go through all the trauma and angst of bankruptcy if I can possibly avoid it? Perhaps these damages may be addressed in the court case, but that doesn't help now does it.

It's a very simple form to fill out. I was like, there must be something more they need to know. What about a Centrelink DNA sample? But no, they seem to be able to get that info from my CRN. I did most of it online, but had difficulty with proving my identity online as the agencies were all Australian. Some of my ID is Kiwi. So I have to provide it manually through snail mail via certified copies. Will do that today and see my GP tomorrow to get them certified. And that'll be it. They said up to two weeks to process.

BTW that $10,000 is subject to tax, the real amount gotten a bit under $8,000. If you're not working though then you get that back at the end of the financial year. 

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