When Can I Access My Super Tax Free? [2024 Guide]

This video shows you exactly when you can access your super tax-free. It might even be sooner than you think!

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⏱ Timestamps
00:00 - When Can I Access My Super Tax Free?
00:25 - When Can You Access Your Super?
01:45 - When You Can Access Your Super Tax Free (Over Age 60)
01:59 - When You Can Access Your Super Tax Free (Under Age 60)
02:42 - Example: Tax on Super Withdrawals
04:31 - Summary

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-- When Can I Access My Super Tax Free? --

Superannuation rules can be confusing, especially when it comes to accessing your super.

Once eligible, you can access your super as a lump sum or as an income stream - depending on your needs. You can even access your super while you’re still working.

Having access to your super can allow you to reduce your working hours, pay down debt or simply retire from work for good.

Knowing when you can access your super tax free, allows you to implement tax-effective retirement planning strategies and have a higher retirement income for longer.

The factors that determine whether or not you will pay tax on super withdrawals include your age, your super tax components and how you access your super (lump sum or income stream). We’re going to step through each of these, so that you know when you can access your super tax-free and situations where you might need to pay tax.

DISCLAIMER: The SuperGuy website and SuperGuy YouTube channel contains general advice only. It is not personal advice as it does not take your specific needs or circumstances into consideration. Therefore, you should look at your own financial position, objectives and requirements and seek personal financial advice before making any financial decisions.

General advice is provided by Toro Wealth Pty Ltd trading as SuperGuy Retirement Experts as an Authorised Representative of Core Value FA Pty Ltd (AFSL 480387).

Before acting on any information, you should seek professional advice and verify our interpretation/s before relying on the content or calculators within this website or on the videos, while also considering its appropriateness in relation to your personal situation.

[jojovilar]

Thanks again, Chris, for this video - I tried to open a TTR late last year, and I was asked a question on whether I left employment recently, and I had - when I clicked Yes, I was surprised I was given full access to the account. Only after watching this video did I realise why when you mentioned about Employment Arrangement ending after age 60 - and that is exactly what happened to me! It now makes sense and have answered a question I've had in my mind for a while... I have never seen that rule mentioned/written anywhere... Cheers!

[michaelstark]

Awesome video. Im only 50 but your channel is a must for me keep up the content.

[nicholasviewey]

How do I withdraw my super funds? I’m in my 30’s and would like to either buy a Lamborghini or go to the casino. Thank you

[anthonyfox]

Hi Chris, I`m 59 and wish to access part of my super.( preservation age is 60 ) Correct me if I`m wrong but you said 225 k was available in the taxable portion tax free under the low rate life time rule ? Thanks in advance.

[Tamarahope]

What is the definition of "employment arrangement"? Could someone over 60 cease working as a paid employee and work as a contractor for several employers, including the one the person was working for? Would that constitute changing employment arrangement?

[dentray]

Hi what is the best way to protect my super balance from going down while I am still contributing, I am 61 in full time employment. Thanks

[jma]

Thank you for the video. Can you give an example, please ?

[rogannaful]

hi Chris - this sounds pedantic but I'm actually 60 and have just ceased an employment arrangement. Your examples talk about OVER or UNDER 60. But what about exactly 60?? Does OVER 60 mean after my 60th birthday or once I'm 61??? thanks so much. video is great - no nonsense.

[sophiebae]

Very helpful! Thank you! One question - video 1:08 "pension": does it refer to "income stream access"?

[chrisseebrown]

Kia Ora Chris,
I have thoroughly enjoyed your YouTube videos on Superannuation matters. I am an ex serving Australian military member (MSBS) having served 23 years, with recognized active war service ( Afghan 06/07) . I currently residing in New Zealand . I will be 55 years of age Jun 2025. I wish to take my Employer Benefit component next year when I turn 55yo.
I am a little confused with what my actual best course of action would be, especially when it comes to paying tax on Lump Sum withdrawal? Should I take the 50% as a Pension & Roll Over the remainder into another Super fund? I wish to be able to retire @ this time? Any assistance on this matter would be greatly appreciated.

[guswarby]

Hi Chris,
I’m 65 and still working can I withdraw part of my super and would it be tax free? 5:21

[DIGITALVISION]

Hi Thank you very much for these informative videos-we are having such a hard time with Hesta, you never get a straight answer.
My husband is 61 and cant get employment- Hesta never mentioned we can get a lump sum only a fortnightly stream into his bank account as a pension . Is that deception?? If we opted for a lump some, can we get that lump into the regular bank acc or does it have to come like Hesta said in a pension stream-- Thank you for your help-SO glad i found your channel ..

[loscocolisos]

Hi Chris
Thanks for this video, it is very good!!!
I have a few questions (silly ones perhaps). I am working full time for a bank, I am 62 years old. In order to get my whole super money I would need to quit my current job, ask the super fund to release my super funds and then if I want to I can get let say a contract for another company. Is my thinking correct?
The words: "Employment Arrangement" sounds like a contract job that one knows when it finishes rather than a permanent position
Many thanks in advance!!!

[evelynhoney]

Hi Chris, I thought that I was already paying 15% tax on sgc contributions. Do I pay tax again at retirement? What have I missed?
Thank you for the video by the way.
Ignore- I just found your video that covers this!

[papataiga]

Im 67, so can I withdraw my Super at any time and in any amounts and can I also sell my investments Tax free ?? I’m puzzled !!!!

[Cody]

Hi Chris, I'm 62 and my work contract doesn't start again for six months. I've exhausted my funds. Do I need to get a letter from the bank telling me they will foreclose my on home before I can access funds on a compassionate basis, it would be good if I could get some money before it gets to that, I've run out of money now..what can I do..?

[emiirsenol]

i forgot my MyGov password do i have to open new account then can i combine my ausuper

[charliesant]

My parents are self employed, my mom is over 65 and wants to pull out her super in a lup sum will she have to pay tax on her super ?

[paulmccormick]

Very helpful.
I have been a casual worker for the nsw education department for 10 years. I will soon be 60. Can I access my super and continue as a casual in education? Thanks so much.

[Sarahbb]

Ato is extremely corrupt I request my tax return and superannuation overseas and they’re trying not pay me. Unbelievable