Hundreds of thousands of struggling workers rushed to pull money out of their superannuation funds in the first week of the financial year as the coronavirus pandemic continues to hit jobs | JennieDuke
Hundreds of thousands of struggling workers rushed to pull money out of their superannuation funds in the first week of the financial year as the coronavirus pandemic continues to hit jobs.
The Australian Tax Office's online services crashed on July 1, prompting speculation among super funds that workers suffering financial hardship were racing to get access to the second tranche. The super funds take an average of 3.3 business days after an application has been made through the ATO to release the funds.
Temporary residents were able to withdraw $10,000 in the first tranche but excluded this financial year.
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