Bariatric Patients may be eligible to apply for Early Release of Superannuation based on ‘Compassionate Medical Grounds’, to cover the out-of-pocket costs associated with surgery.

However, to be eligible for 'Compassionate Release of Superannuation', you must meet strict eligibility requirements and provide accurate supporting documentation from your Specialist Bariatric Surgeon and General Practitioner.

Click the link to read more about Eligibility: Expenses eligible for release on compassionate grounds | Australian Taxation Office

ELIGIBILITY REQUIREMENTS: 

Eligibility Condition 1:

You require medical treatment to treat either:

• a  life-threatening illness (Obesity) or injury
• alleviate acute or chronic pain
• alleviate acute or chronic mental illness

Eligibility Condition 2:

• The medical treatment is not readily available through the public health system

IMPORTANT TO NOTE:

The super you withdraw on compassionate grounds is paid and taxed by the Australian Taxation Office as a normal super lump sum, so it would be advisable to seek advice from your accountant/financial advisor.

It is illegal to access your super early unless you meet a condition of release under the superannuation law. If you access your super without meeting the rules or provide false or misleading statements,  you may face serious penalties. 

Please begin your application as soon as possible as processing times may take more than 28 business days.

Please ensure all the required documentation is complete and the information you are providing is accurate, to avoid any rejections or penalties.  Incomplete Applications will not be approved by the Australian Taxation Department.                  

If surgery is cancelled by the patient and does not go ahead, then we are required to notify the ATO and they will treat it as inappropriate early access, requiring you to repay the tax component and you may face serious consequences.

It is important you understand the application process before proceeding.

You can read more about accessing your superannuation by clicking on the following link:

 Access on compassionate grounds | Australian Taxation Office