Using Your Superannuation to Pay for Surgery
For many people, the cost of plastic or reconstructive surgery can feel like a big hurdle. While superannuation (or “super”) is designed to fund your retirement, there are some special circumstances where you might be able to access it early to help pay for surgery. This is called early release of super on compassionate grounds, and the rules are set by the Australian Taxation Office (ATO).
What Is Superannuation?
Superannuation is a savings account for your future. Your employer puts money into your super fund each time you get paid. Normally, you can only use this money when you reach retirement age.
However, the ATO allows early access to super for certain reasons, like paying for medical treatments that are necessary for your health and well-being.
When Can You Use Super for Surgery?
You might be able to access your super if:
Your surgery is medically necessary (not just for cosmetic reasons).
Your condition is causing chronic pain, significant discomfort, or emotional distress.
The surgery will help treat or manage this condition.
You have supporting medical reports from qualified doctors.
Your super fund will also need to agree to release the money, and not all funds allow this.
Examples of Eligible Procedures
While every application is reviewed on a case-by-case basis, here are some examples of procedures that may be considered eligible for early release of super:
Breast Reduction Surgery: For women experiencing back pain, neck strain, or skin irritation caused by overly large breasts.
Reconstructive Surgery: For people who have experienced significant changes after an accident, illness, or major weight loss.
Eyelid Surgery (Blepharoplasty): If heavy eyelids are blocking your vision and affecting your daily life.
Rhinoplasty: When nasal structure problems (such as a deviated septum) are causing breathing difficulties.
Abdominoplasty (Tummy Tuck): Sometimes considered when loose skin causes skin infections or discomfort after major weight loss or pregnancy.
Remember, purely cosmetic procedures (for appearance alone) are generally not eligible for super release.
How to Access Your Super for Surgery
Consult Your GP and Specialist:
You’ll need reports and medical evidence to show why the surgery is necessary. Dr Mark Kohout can prepare a detailed report if your condition meets the ATO criteria.Submit Your Application:
Apply to the ATO with the required forms and medical documentation.Super Fund Approval:
Even if the ATO approves, your super fund has the final say on releasing your money.Understand the Impact:
Accessing your super early means you’ll have less money for retirement, so it’s important to consider this carefully.
Things to Keep in Mind
Early access is not automatic — you must meet the strict ATO guidelines.
The process can take several weeks or months.
Some people use services like third-party application support companies, but these services usually charge a fee.
This is not financial advice — it’s always a good idea to speak to a financial advisor to understand the impact of withdrawing your super.
Want to Learn More?
To find out exactly what’s required, you can read the ATO’s official page:
Access on Compassionate Grounds – What You Need to Know
If you’re considering surgery and want to know whether you might be eligible, book a consultation with Dr Mark Kohout. He can explain the process and provide the necessary documentation if your surgery meets the requirements.
Note:
This information is general and does not replace financial advice. Always seek advice from your super fund or a qualified financial professional before making decisions about your retirement savings.
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Dr. Mark Kohout
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