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Seb93

5,291 Posts.

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08/07/20

15:23

Post #: 45726351
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Originally posted by Tony barber ↑

OT
I take that back. Seb seems to be on the money.

Apologies.

"If an applicant is unable to demonstrate their eligibility when asked for evidence, an application may be revoked," they said.

"This means amounts paid under COVID-19 early release of superannuation will become assessable income [and] need to be included in your tax return and you will pay tax on the released amount.

"In addition, financial penalties may apply in the most serious cases."

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Yeap and the most serious cases they are referring to are those people withdrawing their super that aren't eligible and putting it back in for tax breaks.
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