Can I access my super early to pay for dental work? (and how do I apply?)

Some patients may be eligible to access their superannuation to cover the cost of dental treatment under the Australian Taxation Office’s (ATO) 'Compassionate Release of Superannuation Program’.

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In this article, we’ve compiled some information about this option so you can learn more about how it works and whether it is right for you. We also encourage you to do your own research into this option (including visiting the ATO’s ​​When you can access your super early page) and discuss it with your relevant financial parties.

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‍But first, a disclaimer: The following information is general and not to be taken as financial advice. It is recommended that you discuss any financial decisions with your financial institution and/or advisor before making a decision. The information in this article was correct at the time of publishing, please visit the ATO’s website for the most up-to-date information.

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Am I eligible for compassionate release of super?

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Early access to your super on compassionate grounds means that in certain instances you may be able to apply for a lump sum to cover the expenses of your or your dependant’s medical or dental treatment.
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According to the ATO’s website, the medical treatment must meet the following conditions to be eligible:
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1. You or your dependant must require the medical treatment to either:some text

                 a) Treat a life-threatening illness or injury

                 b) Alleviate acute or chronic pain

                 c) Alleviate acute or chronic mental illness

2. The medical treatment is not readily available through the public health system

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To be eligible for compassionate release of your super you must meet the following five conditions:

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1. You are (or have been) an Australian or New Zealand citizen or permanent resident.

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2. You meet the eligibility requirements of the specific compassionate grounds that you’re applying for.

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3. You have not yet paid for your treatment or the expense has been paid as a result of you borrowing money that remains outstanding – where you or your dependant have borrowed money to pay the expense.

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4. You can’t afford to pay part or all of the expense without accessing your super, i.e. you can’t access sufficient funds to pay for the dental treatment by:

— using your own savings

— taking out a loan, redrawing your mortgage or using credit facilities (but if you then are unable to repay the borrowed amount, you may still be eligible to apply)

— selling shares, assets, or investments

— accessing funding through other means

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5. You can provide all the evidence you need to access your super early. For dental treatment you will need:

— a report from your dental practitioner to confirm the dental work is required

— your treatment plan, outlining the stages of treatment

— a quote (no more than 30 days old) or unpaid invoice (no more than 60 days old)

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What dental treatments are covered?

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Each patient and treatment will be assessed individually as to whether they meet the criteria for early release of Super on compassionate grounds. But as a general guide, this option may be used to cover the cost of such treatments as:
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—  Dental implants, including All-on-4

— Dentures

—  Root canal therapy

— Crowns

— Periodontal therapy

—  Braces and clear aligners

— Oral and maxillofacial surgery 

Two ways to access your super (and how to do it)

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Thinking seriously about accessing your superannuation to pay for dental work? There are two main ways to go about it. You can apply yourself, via the ATO, or engage the help of a third-party service provider. Let’s take a look at the steps you need to take for each option.

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1) Applying yourself via the ATO

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If you’re eligible for early access to your super, the next step is to fill in the ATO Early Release of Superannuation Benefits on Specified Compassionate Grounds application form.

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You’ll need a myGov account that’s linked to the ATO. From the ATO online home page:

— Select the heading option Super, then Manage, then Compassionate release. 

— Make sure you have digital copies of the required evidence handy. (Must be uploaded in one of the following formats: PDF, gif, jpeg or png.)

— The ATO will assess your application and notify you of their decision. 

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If your application is approved, you must contact your super fund to arrange release of your money. In order for your super fund to process the payment, you'll need to provide them with a copy of the approval letter you received from the ATO.

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2) Using a third-party service

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There are several companies that can help you apply for the early release of your super for dental treatment. For a fee, they will guide you through the process to help make it stress free. At Green Door Dental, we believe everyone deserves the dental care they need. When they need it most. That’s why we’ve partnered with SuperCare—an external services provider that will streamline your application for early super access. You can read more about SuperCare here.The process is simple. Here’s how it works:

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— We send your details to SuperCare via an online referral form

— You’ll be contact by a SuperCare consultant to chat about your eligibility

— If you’re eligible, SuperCare will begin the Compassionate Release of Super (CRS) application process

— SuperCare will contact us to request the required support letter

— GP signs the CRS form

— The application is reviewed and lodged with the ATO

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Other companies that can help you determine your eligibility and help you through the application process include:

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Access My Super

Release My Super

Australian Super

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‍ If you’re still uncertain about this option, come chat with us. While we don’t offer financial advice, we’re happy to answer any questions you may have.