Accessing Superannuation

Cairns Surgery can help you to access your Super Fund to help pay for Weight Loss Surgery.

It is strongly recommend that you obtain independent financial advice before deciding whether to withdraw from your Super Fund to pay for surgery.

Steps to access your superannuation funds:

Pre-application Phase:

  1. Confirm your balance with your Super Fund. Please note that early withdrawals attract tax obligations so the amount taken from your account will be approximately 15-20% more than the total cost of your operation. You are not required to inform your Super Fund that you are planning to access your funds to pay for an operation.

  2. Forms: Two copies of the ATO Compassionate Release of Superannuation form need to be completed. Cairns Surgery will complete one copy after your initial consultation. This will be emailed to you within a week of your initial consultation. The other copy needs to be completed by your GP. Most GPs will require you to make an appointment with them to fill in the form. They may choose to charge a gap for this consultation. This form can be filled out at the appointment you have with your GP before coming to Cairns Surgery. A small number of local GPs are opposed to filling in this form, and if your GP is one of them, you may need to seek this service elsewhere.

  3. Quotes: We will provide you with a quote for the surgical fee and help you obtain quotes for the anaesthetic fee and hospital fee. The quotes must be under 6 months old at the time they are submitted to the ATO. You will receive these quotes around 1 week after your initial consultation with Cairns Surgery. If more than 1 week has passed since you initial consultation and you have not received all 3 quotes, please let us know.

    Before attempting to submit an application to the ATO:

  • Check that you have received 3 quotes, and 2 medical forms

  • Make sure both medical forms are signed by you on page 2

  • Make sure the answer to Question 8 on both medical forms is the same, if not, contact Cairns Surgery

Application to ATO:

  1. The 3 quotes and the 2 forms need to be submitted to the ATO via the ATO online services portal. Use your MyGov credentials to login. From the ATO online services home page, select the heading option Super, then Manage, then Compassionate release (see image below). Answer all the questions asked, and upload the 3 quotes and 2 forms when asked.

  2. Processing times vary throughout the year depending on demand, but usually processing times are between 14-28 days. The ATO will notify you of the outcome of your application via your MyGov mailbox. If successful, they will send you an approval letter.

Screenshot of the Australian Government Australian Taxation Office website showing drop-down menus under the Manage tab, with options for fund details, information, and managing small business super, including subdivision options for Division 293 election, compassionate release, and first home saver.

Application to your Super Fund:

  1. Contact your Super Fund and inform them that you have been approved by the ATO for early release of funds. Ask them where they would like you to send the ATO approval letter.

  2. Submit the ATO approval letter to your Super Fund and await the funds to be deposited in your bank account (varies by provider, but usually 3-10 days).

Funds received:

Pay the surgical, anaesthetic and private hospital fees. Surgical fees are due 3 weeks prior to your surgery. Anaesthetic and Hospital fees are generally due 5-7 days before surgery.

Please note:

  • If you receive the funds from your Super Fund, and later decide not to proceed with surgery, we have an obligation to report this to the ATO

  • The ATO may choose to audit how the funds were spent, so it is advisable to keep all receipts.