Updated 4th January 2021

Applications for early release of your super due to coronavirus have closed. Due to the Australian Taxation Office (ATO) end of year closure between 24 December 2020 to 4 January 2021, confirmation notifications and payments may be delayed.

If you were approved prior to 31 December 2020, we’ll send you an SMS or email when we have received your information from the ATO.

We will be working on transferring the payment to your bank - and we will contact you - if we need more information. You should receive the money into your account around 8 business days after our first SMS.

Updated 18th December 2020

Applications to the ATO for early release of your super due to coronavirus close on 31 December 2020.

Applications cannot be backdated or accepted after 31 December 2020. If you have any difficulty applying online, you can call the ATO on 1300 662 211 between 29 and 31 December 2020 (10am – 6pm AEDT).

Due to the Australian Taxation Office (ATO) end of year closure between 24 December 2020 to 4 January 2021, confirmation notifications and payments may be delayed.

If you have been approved for early release payments any time after the 14th December, we are unable to finalise payment prior to 31 December 2020.

Updated 30 July 2020

The government has extended the application period for early release of super to 31 December from the original deadline of 24 September.

If you're in financial difficulty because of the Coronavirus (Covid-19) and need to access your retirement savings, you can do so from 1 July to 31 December 2020 via the ATO. This new Government measure will allow eligible individuals to access up to $10,000 of super savings until 31 December 2020.

To make the choice that best serves your needs, it's important you know all the options. We encourage you to consider accessing your super as a last resort only if you really need it. Removing super from your account now could leave you worse off in the long run. And, any insurance cover you have may end if there isn’t enough in your account to cover insurance premiums. When you decide on the right option for you, we're here to support you every step of the way.

You can get more information on the early release of super from the ATO website or download the Rest "Early access to Superannuation" fact sheet.

Important: What to consider before applying

1. The impact on your retirement savings

Taking out money now means 'locking in' recent losses, while also losing the long-term benefits of having that money working for you. 

According to CHOICE*, for a 30-year old, $20k in super today could become about $50k in retirement. See the graph below to see the difference.

Impact on balance at retirement,

if you withdraw $20,000 from your super

impact on balance


2. There's other support available

  • Government assistance - for individuals and households.
  • Financial assistance - useful tools and resources to help manage your money and future.
  • Financial counselling – a free, independent and confidential service if you’re worried about bills or debts.
  • Your bank – some banks are offering deferred payments of credit cards and loans.
  • Your landlord – refer to tenancy boards for information on rental relief and your rights.

3. The impact on your insurance

Your cover may be cancelled if there isn’t enough money in your account to pay for fees and premiums. You also won’t be able to claim for any events that occur after your cover is cancelled. Once its cancelled, and you’d like cover in the future, you’ll need to apply and provide health evidence.

Check how much your insurance is costing you via MemberAccess or what you’re covered for via the Rest App.

For more information, refer to your Insurance Guide:

4. Other ways you can limit the impact of Covid-19

  • Review your investment options - Check your investment risk profile with our self-service online tool, to see what option may be right for you.
  • Save on multiple fees and insurance costs by combining your super into one account, check how this might affect your insurance, benefits and other fees involved before consolidating.
  • Get advice – a chat with a Rest Adviser* can help.

Disclaimer: *Rest financial advice is provided by Rest Advisers as authorised representatives of Link Advice Pty Limited AFS Licence 258145 ABN 36 105 811 836.


Am I eligible?

To be eligible for early release, you must satisfy one or more of the following:

  • be unemployed; or
  • be eligible to receive a job seeker payment, youth allowance for jobseekers (unless you are undertaking full-time study or are a new apprentice), parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or
  • on or after 1 January 2020:
    • you were made redundant; or
    • your working hours were reduced by 20% or more (including to zero); or
    • if you’re a sole trader — your business was suspended or there was a reduction in your turnover of 20% or more.

If you’re temporary resident on a student or working visa, you were only able to access up to $10,000 in superannuation in the 2019-20 financial year. You will not be able to apply for access for a second amount in the 2020-21 financial year.

There is no age limit on eligibility.

People withdrawing super will not need to pay tax on amounts released, and the money withdrawn will not affect Centrelink or Veterans’ Affairs payments.

The ATO advises you should keep all evidence of your eligibility, as they may apply checks and penalties at a later date for false declarations.

The ATO has more information about eligibility online.


If you decide to go ahead

Super video screenshot new

Your money will be in your bank account within 10-14 days (including weekends) from when you receive the ATO’s confirmation SMS.

Make sure your mobile phone number and email address are up to date via the Rest App or log in to MemberAccess before you apply to the ATO. This help us ensure we can process your payment on the 5th business day after receiving your approved application from the ATO. Your bank may take an extra 3-5 business days to allocate the money to your bank account. 

While you’re in the Rest App or MemberAccess, check your account balance – it could be different to the amount shown in the ATO website due to market fluctuations, recent contributions, or the deduction of fees and premiums from your account.

How to apply

Applications are through the ATO via MyGovunfortunately Rest can't do this for you. If eligible, you can withdraw up to $10,000 until 31 December 2020.

Steps as follows

How long does early access of super take?


Go to my.gov.au & apply to access coronavirus support


ATO will process & forward approved application to us within 4 business days


We'll transfer money on the 5th business day* of receiving confirmation from the ATO


Your bank processes it and you'll receive it 3-5 business days later


1) If you're thinking of applying, keep in mind that according to CHOICE1$20k in super today for a 30-y.o. could become about $50k on retirement.

2) You may lose your insurance if your account balance falls too low.

3) You may be eligible for other government support such as JobSeeker or JobKeeper.

Disclaimer: 1https://www.choice.com.au/money/financial-planning-and-investing/superannuation/articles/early-access-to-super.
myGov is a registered trademark of the Commonwealth of Australia. Use of the myGov trademark does not imply any affiliation with or endorsement.


  1. Go to my.gov.au and look for "apply to access coronavirus support".
  2. Complete the ATO form or call them if you need help.
  3. ATO will confirm your bank account details, your super fund accounts and balances.
  4. Confirm which super accounts and amount you wish to be released.
  5. Submit your application.

I've applied to the ATO for my super, what happens next?

Please wait 10-14 days (including weekends) for money to appear in your bank account from when you receive the ATO’s confirmation SMS. Once you've applied to the ATO:


  1. The ATO will process your application and within 4 business days they will tell you if it has been approved or rejected (called a determination). This determination will be a letter sent your MyGov inbox. The letter will tell you how much super will be released to you.
  2. Then, the ATO will send an approved application file to tell Rest that you’ve been approved for early release of your super. Once we receive this file, we will load it to our system which can take up to 24 hours. You don’t need to contact us directly to let us know your application has been approved by the ATO.
  3. If we have your mobile phone number, we’ll send you an SMS within 1-2 days of this advice to let you know we’re processing your payment.
  4. We’ll transfer money at the end of 5 business days of receiving approval from the ATO and we will send you another SMS to confirm we have made payment to your bank. Your bank may take a further 3-5 business days to allocate the money to your account. Occasionally we may take longer than 5 business days to process a more complicated request and we may need to contact you to discuss further.
  5. Occasionally we may take longer than 5 business days to work through security measures and process a more complicated request. We will contact you if we need more information. Your bank needs an extra 3-5 business days to allocate money to your account. Don’t forget to add time in for weekends.
*Occasionally, we might extend beyond 5 business days if we need to do extra verification or other checks on your account and we may need to contact you to discuss. If you have not received payment from us after 10-14 business days, please contact us.

When you'll be paid


I've made an error in my application or want to cancel - what do I do?

If you’ve made a genuine mistake or error in applying, you can ask the ATO to revoke your application before they make a determination, but you’ll need to do this urgently. Otherwise, you can’t withdraw your application.

You’re not able to change your bank details once you have submitted your application to the ATO. If you have made an error, you will need to contact the ATO immediately as Rest can only make changes to EFT and amount requested (only if it is below that requested via ATO).

Any changes to your request will mean we need to manually process it, and this will delay us being able to pay you.


How are we processing payments?

We are absolutely focused on helping our members in financial distress by completing payments as quickly as possible. Please wait 10-14 days (including weekends) for money to appear in your bank account from when you receive the ATO’s confirmation SMS. 95% of payments that have been completed were processed at the end of 5 business days. Your bank needs an extra 3-5 business days to allocate money to your account.

A minority of payments have been flagged as requiring extra verification, to protect your money from things like fraud and money laundering.

This doesn’t necessarily mean any of these requests are fraudulent – it just means we need to do extra checks to be sure. It’s the responsible thing to do. Unfortunately, these extra checks take longer and, in these cases, money is transferred to a member’s bank later than 5 business days.

We know this is frustrating and we know how important it is that you receive payment without unnecessary delay. Please be assured that we have been working hard to review and finalise these requests as quickly as possible.

Other ways of accessing your super early

Generally, you can't access your super before preservation age. However, there are a number of existing conditions you can use to withdraw your super early if necessary.

For example, you can apply to access part of your super if you’re experiencing severe financial hardship, so long as you meet other eligibility conditions. You can also apply to the ATO for an early release of your super on compassionate grounds.

While you're here may also want to check out the below info

insurance    Coronavirus and the role of insurance - Learn about what's covered and how to make a claim

shield    Market fluctuations - Learn what is happening in the market and how it affects your super

castle    Coronavirus and your business - If you're an Employer, find out how Rest is supporting you and your employees

search    Still have more questions? - Check our FAQs