COVID-19 early release of super
The COVID-19 early release withdrawals may be recontributed to the super system from 1 July 2021 until 30 June 2030 (up to a maximum of $20,000).
There is now an opportunity for members who withdrew funds through this scheme to recontribute.
COVID-19 early release withdrawals from super may be recontributed to the super system from 1 July 2021 until 30 June 2030 (up to a maximum of $20,000).
Eligible re-contributions by a member will not affect their non-concessional contributions cap, but cannot be claimed as a deduction.
There are eligibility criteria that apply to make a re-contribution; including that only the total amount received through the COVID-19 early release scheme can be re-contributed and legalsuper must receive a completed form from the re-contributing member before or at the time of re-contribution.
We are waiting on Government advice on their process for members to re-contribute to their super and will update this page once we have received that information.
This is general information only and does not take into account your individual objectives, financial situation or needs. Accordingly, before taking any action, you should consider whether it is appropriate to you, having regard to your objectives, financial situation and needs and obtain your own personal advice from a licensed financial adviser. You should obtain a copy and read the relevant legalsuper Product Disclosure Statement (PDS) which is available by contacting us or here before making any decision.
