21 January 2020
TWUSUPER extends its sympathies to the many Australians currently impacted by the bushfires around the country.
A lot of people and businesses, including those who rely on the transport industry for their livelihoods, will be emotionally and financially impacted over the coming months.
Help for individuals through super
You may be able to access some or all of your super if you’ve reached your preservation age.
Early release claims through super
You may also be able to access your super under compassionate grounds or financial hardship. There are Government rules around how and when you can access your super – for more information, see Accessing super or call us on 1800 222 071 from 8am to 8pm (AEST/AEDT) weekdays.
As an Industry Super Fund, TWUSUPER is preparing for claims from bushfire victims who hold insurance through their super and will ensure they are processed as quickly as possible.
Ask your bank about hardship options
If you find yourself unable to meet day to day living expenses you should ask your bank what hardship options they have in place for people affected by natural disasters.
Earlier this month the Australian Bankers Association announced fee-and-loan-repayment changes to help customers get through the crisis. Member banks include the big four and ME Bank.
Assistance could include:
- deferred loan payments,
- waived fees and charges,
- help with debt consolidation,
- waived penalties for early withdrawal of a term deposit, and
- deferring upcoming credit card payments and increasing emergency limits.
State-based financial help
Help for business
The ATO has stated that, if you’ve been impacted by these bushfires, they don't want you to be concerned about your tax affairs. They'll help you sort out your tax affairs later. The ATO has identified impacted postcodes, and will automatically grant deferrals for lodgments and payments due. You, or your agent, don't need to apply for these deferrals.
If you wish to discuss things with the ATO over the phone, you can phone their Emergency Support Infoline on 1800 806 218 for help.
If you're an employer responsible for paying employee super, our Account Managers are here to help.
Help for your community
In times of disaster, different people react in different ways. As communities rally together around Australia this fire season (and in its aftermath), it’s important that people have access to the help and services they need.
SuperFriend is the organisation behind R U OK and they have years of experience helping employers and colleagues help each other in times of personal hardship. Their bushfire support resources include:
- tools to help take care of yourself and others,
- pointers on how to support someone who is struggling emotionally, and
- information on where to look for financial hardship support.