Migration Centre of Australia

Early Access to Superannuation Funds for Temporary Visa Holders

On 22 March 2020, the Australian Government announced various measures to support the economy through the national crisis caused by an impact of COVID-19 (Coronavirus) pandemic, including temporary early release of superannuation funds.

With a lot of uncertainty around the eligibility criteria of temporary visa holders to access early super, the Department of Home Affairs (DoHA) has provided clarity in this regard, as summarized below:

 

Visa Category

Eligibility Criteria

Super Amount

Bridging Visas Unable to meet immediate living expenses AUD $10,000 in 2019-20
Student Visas ·      Holder of student visa for 12 months or more, and

·      Unable to meeting immediate living expenses

AUD $10,000 in 2019-20
Temporary Protection Visas Unable to meet immediate living expenses AUD $10,000 in 2019-20
Special Category Visa (Subclass 444) ·      Unemployed

·      Eligible to receive certain social security payments or farm household allowance payments

·      Redundant or reduced working hours and sole traders suffering a significant reduction in turnover

AUD $10,000 in 2019-20

and further $10,000 in 2020-21

Temporary Resident (Skilled Employment) Visas ·      Remain employed, and

·      Unable to meet immediate living expenses

AUD $10,000 in 2019-20
Temporary Resident (Other Employment) Visas Unable to meet immediate living expenses AUD $10,000 in 2019-20
Visitor Visas Unable to meet immediate living expenses AUD $10,000 in 2019-20
Working Holiday Maker Visas Unable to meet immediate living expenses AUD $10,000 in 2019-20
Investor Retirement/ Retirement Visas ·      Unemployed

·      Eligible to receive certain social security payments or farm household allowance payments

·      Redundant or reduced working hours and sole traders suffering a significant reduction in turnover

AUD $10,000 in 2019-20

and further $10,000 in 2020-21

 

If you facing any visa issues or need any migration related advice, Get In Touch with us or call us on (02) 4626 100 to speak to one of our Registered Migration Agents who can help you.

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