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Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I was born Nov 1959 so have reached preservation age. I've had a work related spinal

Customer Question

i was born Nov 1959 so have reached preservation age. I've had a work related spinal injury 1995 and I've had 5 spinal operations. I have been receiving and still receiving weekly work cover benefits. I
I was assessed by the work cover doctor and he assessed me at 58% incapacity. I still have a work capacity between 5 & 10 hours weekly, however I haven't work for more than 5 hours per week for the past 3 years.
As I have some outstanding financial debt which I would like to pay using my superannuation, can I access my superannuation without jeopardizing my weekly work cover entitlements?
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good EveningMy name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.You will have to be careful because you may be taxed on any early release of superannuation because there are some benefits you can have and others you cannot. Here is a link from the ATO you are not retiring then you may have an issue. You have to retire to be able to get the money now.Your superannuation should not affect your workers compensation payments as you cannot work.It is not like getting the pension.But you have to speak to your accountant on the early release as you may be taxed and lose 30% of the super.I hope this makes sense?