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Illegal Early Access to Super
Faced with tough times, some people may be thinking about accessing their super early.
Taxpayers may have been approached by someone (a 'promoter') claiming that members of super funds can withdraw their super or use an SMSF to pay off debts, buy a car, or pay for a holiday.
Re-contribution of Covid-19 early release super amount.
Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards their non-concessional contributions cap.