fb pixel

Early Release of Superannuation for Expensive Dental Treatments | Melbourne CBD

by | Oct 17, 2023 | Superannuation

Are you aware that you can access your superannuation for dental treatment if you’re struggling to afford necessary dental expenses?

This is a common issue for over 2 million Australians. The good news is you can access your superannuation for dental treatment if you’re experiencing acute or chronic pain.

Consult a registered medical practitioner for the required early super (superannuation)release documentation. We’re here to help you get the dental care you need.

Can Your Superannuation Be Used to Cover Dental Treatment Expenses?

Yes, it can, but you’ll need to prove you’re experiencing acute or chronic dental pain requiring urgent or long-term care.

The ATO defines acute as a rapidly progressing condition, while chronic signifies a longer-lasting issue, typically lasting at least three months.

Understanding Early Access to Superannuation for Dental Treatments: Are You Eligible?

Certain criteria must be met to be eligible for the early release funds of superannuation for dental treatment:

  1. Medical Necessity: There must be compelling evidence that the dental treatment must address acute issues causing significant pain and suffering. This program aims to provide relief in situations where delaying treatment could lead to more complex health problems or future complications.
  2. Lack of Adequate Dental Insurance: You should demonstrate that you do not possess sufficient or suitable dental insurance coverage to support the required dental procedures.
  3. Financial Constraints: Given your current financial circumstances, you must prove that you cannot afford the necessary dental treatment.
  4. Superannuation Fund Membership: You or an immediate family member must be affiliated with a superannuation fund.

Dental Treatment and Procedure Eligible for Early Super (Superannuation) Release

If you meet the previous conditions, you may inquire about whether specific types of dental procedures qualify for early superannuation access.

The following dental treatments are examples of those that may meet the criteria:

The urgency and cost of the treatment will influence whether you qualify for an early release of funds from your superannuation.

How to Access Your Superannuation for Dental Treatment

For early release to be granted, you must obtain certification from one of the following:

  1. Two Dental Practitioners: At least one of them must be a specialist in dentistry.
  2. General Practitioner (GP) and Dental Practitioner or Specialist: Alternatively, a GP and a dental specialist can provide the necessary certification.

The dental services covered by the program must be deemed necessary to:

  • Treat a life-threatening illness or injury.
  • Alleviate acute or chronic mental health conditions.
  • Relieve acute or chronic pain.

Is There a Maximum Withdrawal of Superannuation for Dental Treatment?

No, there’s no specific limit on withdrawing superannuation for dental treatment.

Your withdrawal amount is determined by the cost of the necessary dental treatment and procedures and the balance available in your superannuation fund.

What Are The Downsides of Early Superannuation Access for Dental Treatment?

Superannuation funds are primarily intended to support your post-retirement living expenses.

However, if you have yet to reach your preservation age, typically falling between 55 and 60, it’s essential to be aware that withdrawing from your superannuation will incur tax obligations.

In some cases, pursuing an early release of superannuation may be the sole means of affording necessary dental work. Nonetheless, this is a weighty decision that should be made only after exploring all available financial alternatives.

Consult with your superannuation fund to comprehensively understand its potential consequences.

Need Help Accessing Your Super (superannuation) for Dental Treatment?

Consult a qualified dentist to assess your dental needs and guide you through the application process.

If you have the Compassionate Release of Superannuation form, bring it along; if not, your Melbourne CBD dentist can assist in filling it out.

If you have questions, contact us, and our experienced team will assist you in gaining affordable dental care through a superannuation release.

Call us on (03) 9642 8955 or request an appointment online.

We are located at Level 17, 190 Queen Street in Melbourne CBD.

Useful ATO Resources (Updated August 2023):

Superannuation Withdrawals and Utilisation

Dental Treatment Application

Medical Treatment Eligibility

Compassionate Release Medical Form

Preparing for Early Release: Key Considerations