Leonardo Cantarelli
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Financial-Hardship-Form EARLY RELEASE OF A SUPERANNUATION BENEFIT SEVERE FINANCIAL HARDSHIP
IMPORTANT INFORMATION
Superannuation benefits are generally `preserved' until a member retires from the workforce after at least age 55. Government legislation permits the early release of preserved superannuation benefits before retirement after at least age 55 in very restricted circumstances.
Before you complete this form and make your application to the Trustee for early release of your superannuation benefit it is important you read the following information.
WHO CAN CLAIM FINANCIAL HARDSHIP? There are strict guidelines in place for assessing Early Release applications, and you should understand these guidelines before you submit your application.
Before you make an application to the Trustee, the first thing to do is check if you're eligible to make a claim. Have/are you:
1. Receiving Commonwealth income support payments for a continuous period of at least 26 weeks and are still in receipt of those payment?
2. Unable to meet reasonable and immediate family living expenses (these must be outstanding and can be shown through bills)?
3. Not received a payment for a severe financial hardship claim from the trustee in the previous 12 months?
If you answered yes to all three questions, you are eligible to apply for Financial Hardship. Please fill out the attached form and send it to support@gigsuper.com..au.
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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HOW MUCH CAN BE RELEASED? If the trustee is satisfied you meet these requirements, the trustee may release one lump sum payment in any 12 month period. The lump sum payment can be no more than a gross amount of $10,000 and no less than $1,000 (or the balance of your benefits, if it is less than $1,000)
Subject to these maximum and minimum amounts, the actual amount released will be determined by the Trustee, based on the information you provide on the application form.
WHAT TAX IS PAYABLE? How any benefit that may be paid will be taxed depends on your age and the components of your super. If you are under age 60 we may be required to deduct tax on the taxable component of your severe financial hardship benefit payment. Consult your accountant and/or financial planner for details on the tax treatment for your personal circumstances.
WHAT IF YOU ARE NOT ELIGIBLE If you did not answer yes to all three questions above, then you are not eligible to apply. If the expenses related to your financial hardship are listed below, you may wish to contact the ATO to apply for the release of your benefits on a specified compassionate grounds:
Medical treatment Transport for medical treatment Mortgage assistance Modifications to your home and/or motor vehicle (due to disability) Funeral assistance Care for Terminal Medical condition
For more information on the above, please visit the ATO website at www.ato.gov.au, lodge an application through MyGov or contact the ATO on 13 28 61.
HOW DO I APPLY FOR EARLY RELEASE DUE TO FINANCIAL HARDSHIP?
Step 1. Have All Necessary Documents: Original letter from the appropriate Government agency that is no more than 21 days old, confirming your income support payments. Certified Proof of Identity (See below for details)
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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Certified copy of a bank document showing your BSB, account number and account name. The copy cannot be more than six months old, however you can cover up the financial details if you prefer.
Certified Proof of Income. (e.g. Pay Slips, Centrelink Income Statement). Copies cannot be more than six months old.
A valid "Q230 letter" from Centrelink that is less than 21 days old. If you have changed your name and not advised us previously, you will need to provide a certified copy of
your marriage certificate, deed poll or change of name certificate. Evidence that supports the payment request (e.g. copies of overdue bills, demand notices, letters of
default. Please do not send originals). Copies cannot be more than six months old.
What does certified mean?
If you provide us with a non-original copy of your ID documents or supporting paperwork, you must have them
certified. That means the certifier must: 1. Sight the original and the copy to make sure both documents are identical 2. Write or stamp `certified true copy of original document' on each page 3. Sign and print their name and qualification (e.g. Justice of the Peace, Australia Post employee) on each page.
What are the acceptable forms of ID? Your current driver's licence or current passport (please copy and certify both front and back section if relevant) OR Your birth certificate, Australian birth extract, Citizenship certificate or current Centrelink pension card AND a current rates, electricity or gas notice (no more than 3 months old) or assessment from the Australian Taxation Office (no more than 12 months old) showing your name and current residential address.
Who can certify copies of ID? Justice of the Peace (including Commissioner for Declarations), Police Officer One of the following with two or more years of continuous service: Australia Post permanent employee Financial Institution Officer (e.g bank employee) Australian Financial Services Licensee, authorised representative or officer
Step 2. Complete Severe Financial Hardship application form and send form with supporting documentation to:
GigSuper
PO Box 7540
GCMC QLD 9726
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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Please take note of the following important information:
YOUR DETAILS Legislation states that we may not be able to process your claim without a correct residential address noted. A PO Box is not a residential address.
FINANCIAL INFORMATION QUESTIONNAIRE You must be able to prove to the Trustee that you are not able to meet reasonable and immediate family living expenses based on your current income and assets. If the Trustee finds that there is insufficient evidence, your application may not be approved.
When providing evidence of expenses, they must be reasonable and immediate and no older than 60 days. For example: rates notices, electricity bills, telephone bills or an outstanding credit card bill (only the minimum amount due is considered as immediate, not the total balance).
If you are claiming a private personal debt owed to a friend or family member, the lender must provide a Statutory Declaration (obtainable from any Australian Post Office) identifying the debt. The declaration must include:
Full name and address of the lender; The purpose of the loan; Amount of the loan; The date the loan was made; The balance of the loan that remains outstanding; and The terms of repayment.
The person who lent the money must make this declaration, not the member. All the above information must be included, for this debt to be included for the purpose of assessing your eligibility for a Severe Financial Hardship application.
The information provided in your application will be used solely for determining whether you are experiencing severe financial hardship. The information will not be made available to any other person, (except under an order of a court).
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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HOW LONG WILL THE ASSESSMENT PROCESS TAKE? To ensure your application is assessed as quickly as possible, it is important to make sure that the application form is correctly filled out, all necessary documents are provided, including certified copies. Missing information or documents will result in a delay in assessment while they are requested. Once the complete application form and supporting documents are submitted, they will be reviewed by our Trustee.
AUSTRALIAN COMMONWEALTH INCOME SUPPORT PAYMENTS: PAYMENTS THAT QUALIFY AS INCOME SUPPORT FOR THE PURPOSE OF SEVERE FINANCIAL HARDSHIP To be able to make a claim for Severe Financial Hardship, you will need to provide evidence you have been in receipt of an Australian Commonwealth Income Support Payment (payments that qualify below). Please contact the appropriate Government Agency to arrange the appropriate letter.
Social Security Benefits (allowances) Contact Centrelink Employment Services 13 28 50
Social Security Pension Contact Centrelink Retirement Services 13 23 00
Service Pension Contact Centrelink Retirement Services 13 23 00 Income Support Supplement Contact Department of Veteran Affairs 13 32 54
Partner allowance Mature age allowance (granted after
01/07/96) Special benefit Widow allowance Newstart allowance Sickness allowance Parenting allowance (other than parenting
allowance that is paid at the basic rate independently of the spouse's income) Age pension Disability support payment Wife pension Carer pension Mature age allowance (granted after 01/07/96) Mature age partner allowance Bereavement allowance Widow B pension Disability wage supplement Special needs pension Age service pension Invalidity service pension Partner service pension Carer service pension
An income support supplement paid by the
Department of Veterans Affairs.
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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PAYMENTS THAT DO NOT QUALIFY Some payments such as Family Assistance and AUSTUDY do not qualify. If you are in doubt, please contact the relevant Government department on the contact numbers above.
HAVE YOU RECEIVED A SEVERE FINANCIAL HARDSHIP PAYMENT RECENTLY? You can only receive one payment for financial hardship in any 12 month period. If you have received a payment in the previous 12 months, please do not proceed any further as your claim will not be considered.
The Trustee is only allowed to approve the release of superannuation benefits up to the amount of $10,000. The Trustee also requires the full completion of this form along with the above information in order to submit this application.
PRIVACY When we collect your personal information, it is securely stored and will only be used and disclosed to authorised personnel, service providers and third parties in order to:
administer your superannuation account benefit payments direct marketing
For a copy of the Privacy Policy, visit https://www.gigsuper.com.au/privacy-policy/ or email us at support@gigsuper.com.au. Our Privacy Policy sets out how you can access information about your benefit and personal details, correct any information which is inaccurate or out-of-date and information on our privacy complaints process.
DECLARATIONS AND SIGNATURE You must complete, sign and date the form and return it to GigSuper, PO Box 7540, GCMC QLD 9726
CONTACT DETAILS GigSuper E: support@gigsuper.com.au
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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Severe Financial Hardship Application Form
MEMBER DETAILS
Name ______________________________
Surname ____________________________
GigSuper Member Number _____________________________________________________
Email Address ______________________________________________________________
Address __________________________________________________________________
Phone ___________________________________________________________________
DEPENDANTS Name of Dependant Age of Dependant
Spouse/Partner Child 1
Child 2
Child 3
Child 4
Financial Information: Please explain briefly the reason behind your financial hardship and what the money would be used for, if released. If more space is required, please attach a separate page.
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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_________________________________________________________________________
Payment options: Please complete all sections and attach your valid Centrelink or Department of Veterans Affairs (DVA) letter. We require the original letter or a certified with an original signature by a JP or Solicitor as being a true copy of the original document and a certified copy of your Driver's Licence.
Amount required: ____________________________ (cannot exceed $10,000 within a 12 month period)
Payment Details:
If your payment is approved, how would you like to receive the payment? In my bank account (EFT) By Cheque
Bank Account Details: _________________________________________________________
Financial Institution __________________________________________________________
Account Name: _____________________________________________________________
Type of Account: ____________________________________________________________
BSB Number: __________________________
Account Number: _______________________
Current Financial Information
Assets
Own home Investment Properties Savings
$ $ $
Weekly Income (please supply evidence, e.g. Payslips,
Centrelink letter)
Combined Weekly Income (after tax)
You
$
Your Partner
$
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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Vehicle
Make: Year of Manufacture: House Contents
Shares/Investments Other (provide details)
$
$ $ $
Total Assets
$
Your Dependants (if
applicable)
Income
Support
Payments
Other Income (provide
details)
Total Weekly Income
$
$
$
$ $ $ $ $
Total Liabilities (evidenced by bank/credit card Total Living Expenses (weekly expenses for you, your
statements no older than 60 days)
partner and your dependants, evidenced by bills/receipts
Home Loan Investment Loan
$ $
no older than 60 days) Rent/Board/Rates Minimum credit card and loan
$ $
Personal Loan(s) Credit Card Balances
$ $
repayments Groceries Vehicle
Costs
$ $
Other Debts (see below)
(petrol/registration) Utilities
$
$ $ $
(electricity/gas/water/phone) Insurance (house/health/car) Other (see below)
$ $
$
$
Total Liabilities
$
Total Weekly Expenses
$
Please attach copies of any supporting evidence for figures noted above.
Tax File Number (TFN) Declaration
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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Only fill out if you have not previously provided GigSuper with your TFN.
I CERTIFY THAT: (please tick appropriate box) My TFN is: ______________________________
I understand, I am not obligated to provide my TFN and that this information will be used strictly for the
purpose of compliance with Australian Taxation Laws and not for any other purpose, OR I do not wish to release my TFN for the purpose of calculation of any tax liability and understand that
accordingly, my benefit will be taxed at the top marginal tax rate as provided under the tax legislation.
Declarations and signatures
I declare that: I am unable to meet my reasonable and immediate family living expenses and that I do not have any assets (apart from my home) which could (reasonably and realistically) be used or sold to cover this gap. The amount that I am requesting to be released is necessary to meet this reasonable and immediate family expense. The information I have given on this form and any accompanying documents is true and correct. I consent to the collection and disclosure of my personal information for the purposes outlined on this form, and understand and accept the information may be shared with staff and providers of GigSuper. I understand that the personal information that I have provided on this form will be used for the purpose of administering my account. GigSuper may use my email address to provide me with information about the fund and my membership. I have read and understood the information at the top of this form.
MEMBER SIGNATURE ____________________
DATE / /
Supporting document checklist
I have attached: Certified Proof of Identification Certified copy of a bank document showing your BSB, account number and account name. This copy cannot be more than six months old. You may cover up the financial details if you like. Certified Proof of Income (e.g Pay Slips, Centrelink Income Statement). Copes cannot be more than six months old. A valid Q230 letter from Centrelink that is less than 21 days old. If you have changed your name and not advised us previously, you will need to provide a certified copy of your marriage certificate, deed poll or change of name certificate. Evidence that supports the payment request (e.g copies of overdue bills, demand notices, letters of default. Please do not send originals.). Copies cannot be more than six months old.
Please return completed form and supporting documentation to GigSuper, PO Box 7540, GCMC QLD 9726.
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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GigSuper Pty Ltd ABN: 32 620 862 053 | ACN: 620 862 053 support@gigsuper.com.au | www.gigsuper.com.au
Disclaimer The information contained in this document is general in nature and has been prepared without taking into account your objectives, financial situation or needs, and because of this, you should consider whether the information is appropriate and where appropriate seek professional advice from a Financial Adviser. Refer to GigSuper's website for a copy of its PDS. GigSuper is a product promoted and distributed by GigSuper Pty Ltd (ABN 32 620 862 053) who is a Corporate Authorised Representative (CAR No. 1276569) of APP Financial Advisers Pty Ltd (ABN 25 132 958 591, AFSL 412302).
Issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as trustee of the DIY Master Plan (ABN 46 074 281 314).
GigSuper is a public offer fund regulated by the Australian Prudential Regulatory Authority (APRA).
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