Jobseekers, the unemployed and people whose hours have been cut by 20 per cent will be able to dip into their retirement savings to help them weather the coronavirus crisis, with the government expecting up to $27 billion to be pulled from the superannuation system.
People will be able to apply online through myGov to access up to $10,000 of their super, tax free, before July 1, and then another $10,000 after the new financial year begins on July 1, also tax free.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
