COVID-19 early release of super – integrity and compliance

COVID-19 early release of super – integrity and compliance

Anyone who received a payment under the Covid-19 early release of super scheme can no longer make deductible contributions until they have re-contributed the amount withdrawn under the scheme. This applies up until 30th June 2030. In some cases the ATO may impose interest and penalties for individuals who have deliberately made fraudulent claims in order to receive money under the scheme, and who then re-contribute amounts in order to receive a tax deduction. More information here.

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