Early Release of Super
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Early Release of Super for Dental Work
In Australia, superannuation (often called super) is designed to provide financial security during retirement. It works like a long-term savings plan, steadily growing over time through regular contributions and the benefits of compound interest, along with favourable tax treatment. Since these funds are usually locked away until retirement, the goal is to ensure you have sufficient savings to support your future.
However, in special circumstances such as medical or dental emergencies, you may be able to apply for a compassionate early release of your superannuation. If you require essential dental treatment at Cranbourne North Dental but are concerned about the cost, you could be eligible to access part of your super early to help cover your treatment expenses.
Why should I release my Super for Dental Work?
Maintaining good oral health is an important part of overall well-being, but we understand that some complex dental treatments can be costly. Procedures such as oral reconstructive surgery, dental implants, crowns, root canals, and orthodontics are sometimes essential but may place financial strain on patients. Delaying or avoiding these treatments can affect not only your confidence and quality of life but also your long-term health.
The Australian Tax Office (ATO) recognises that certain dental procedures, particularly those connected to serious medical conditions or requiring urgent care, may qualify for compassionate early release of superannuation. This provision allows eligible patients to access their super to cover necessary dental treatment.
What Dental work qualifies for Early Super Release?
It’s important to understand that not every dental procedure qualifies for early release of superannuation. To be considered, your dental treatment must meet at least one of the following criteria:
Relieve severe or ongoing pain
Address a life-threatening condition or disability
Significantly improve your quality of life if your oral health is severely compromised
Based on these requirements, the dental treatments that may be eligible for early super release include:
Reconstructive dental surgery
Wisdom teeth removal
Dental implants
Advanced gum disease treatment
Orthodontic treatment for serious bite or jaw problems
Cosmetic dental procedures that have a substantial impact on daily life and wellbeing
On the other hand, routine care such as dental check-ups, professional cleans, and cosmetic-only treatments like teeth whitening generally do not qualify.
How do I start my application for early super access?
To apply for early release of superannuation for dental treatment, you’ll need to follow these steps:
- Consultation with your dentist – Start with a comprehensive dental examination so we can identify the treatment required and assess whether you may be eligible.
- Gather supporting medical evidence – You’ll need signed documentation from both a registered dentist and a medical professional (or specialist). This must explain why the treatment is necessary and how it will relieve a serious condition or improve your quality of life.
- Submit your application through the ATO – Applications are lodged online via your MyGov account. Make sure you have all the required documents ready, including treatment quotes and medical evidence.
- Await ATO approval – Once your application is reviewed and approved, you’ll be able to access the funds from your superannuation to pay for your dental treatment.
Important things to consider
Accessing your superannuation early can be a helpful way to fund essential dental treatment, but it’s important to keep in mind that super is primarily designed to support you in retirement. Withdrawing funds early reduces the long-term balance available to you later in life, as it interrupts the compounding growth of your savings.
You should also be aware that early withdrawals may have different tax implications, which could affect your overall financial situation.
For these reasons, we strongly recommend seeking professional financial advice before making a decision. Understanding both the benefits and the drawbacks of early super release will help you make an informed choice that supports both your dental health and your future financial wellbeing.
Other Payment Plans
A smile is for life, so it is definitely worth your while to plan for the future. Here at Cranbourne North Dental, we offer various payment plans to suit your lifestyle. Click the button below to find out more about our other payment plan solutions.
Frequently Asked Questions
What is Early Release of Super for dental treatment?
Early Release of Super (ERS) allows eligible patients to access part of their superannuation savings to pay for necessary dental or orthodontic treatments that they may not otherwise be able to afford.
What dental treatments can be covered under Early Release of Super?
ERS can be used for a wide range of dental procedures, including implants, orthodontics, crowns, bridges, and other major treatments that are deemed essential for your oral health and wellbeing.
Am I eligible to access my super for dental care?
Eligibility depends on meeting strict criteria set by the Australian Taxation Office (ATO). Generally, you may qualify if the treatment is considered essential for your health and you do not have the financial means to pay for it upfront.
How do I apply for Early Release of Super for dental treatment?
The process usually involves your dentist providing a supporting letter, along with an application to the ATO via your MyGov account. Our team can guide you through each step to make the process as simple and stress-free as possible.
