Ever wondered how ‘using my Super for dental work (ATO)’ works? You’ve come to the right place. This page will answer everything you need to know about accessing Super for dental work, including:
Can you withdraw Super for dental work?
Who is eligible?
How much can you use?
What treatments are covered?
How to get started?
As the cost of living continues to rise, it can be difficult for most individuals and families to afford basic healthcare services, including dental. Recent studies revealed that 39% of Australians over the age of 15 avoided going to the dentist due to cost. Because of this, many people are starting to seek alternative payment methods, like accessing Super for dental.
In Australia, Compassionate Release of Super is a way to access your superannuation early in urgent situations set by the government, like severe financial hardship or medical treatments.
Using your superannuation for necessary dental treatment that you can’t otherwise afford can be incredibly helpful. However, while all individuals have the right to apply for early access to their Super on compassionate grounds, strict criteria apply. You will need to prove that you are experiencing ‘acute or chronic dental pain’ and will only use the money for the referred dental treatments.
The Australian Tax Office (ATO) defines these terms as below:
In Australia, all individuals have the right to apply for early access to their Super on compassionate grounds.
You’ll need specific documents from a qualified dental practitioner (a GP or dental specialist) to prove you can access your Super early for dental treatment. These include:
These papers must be signed and completed within six months before your treatment.
You also have to meet these four conditions:
You can take out as much Super as you need for your dental treatment, depending on how much you have in your Super fund and the overall treatment costs.
If you’re in severe dental pain and need early access to your Super for treatment, eligible services may include:
The specific procedure depends on what’s necessary to ease your pain, and you’ll need proof from your dentist or orthodontist before applying for early access.
Our clinics at Underwood (Brisbane) and Maudsland (Gold Coast) offer gentle and affordable dental services to all ages. We aim to make your dental experience pain and stress-free, using state-of-the-art equipment in a comfortable and modern facility. If you are not eligible to access your Super early, we also accept multiple payment methods including Afterpay and ZipMoney, and accept all health funds to ease the financial burden.
There are two ways to get early access to your Super for dental work:
1. Through a Provider:
2. Doing It Yourself:
It’s important to note that the ATO considers early access to your Superannuation as taxable income. They might tax around 20% of what you take out. It could also impact things like child support, income support, and family tax benefits.
Furthermore, you might lose benefits like income protection or death/disability insurance if you drain too much of your Super before retirement. We strongly recommend getting professional advice before you make your final decision.
Regardless of your situation, the first step is always to visit a qualified dental practitioner to check your teeth and decide how to ease your dental pain. If you cannot proceed with recommended treatment due to financial hardship, they’ll let you know of your alternative payment options, including how to access your Super early. They will provide you with all the required ATO forms if you decide to proceed with this method.
Need more information on using your Super for dental care (ATO)? Just give us a call! Our team has helped loads of Aussies receive affordable dental care through early Super access.
Get in touch today to chat about accessing your super sooner for a brighter smile!
