We have reviewed the latest Compassionate Release of Super figures from the ATO and thought it would be of interest to you all. Should you wish to view the source of this information it is available here, courtesy of the ATO.
In this blog we have provided a summary of the following:
- Total Applications Received and Approved
- IVF Applications Received and Approved
The table below summarises the Total CRS applications, along with approval rates and trend patterns:
When viewed over the four financial years, the overall approval rate is approximately 60%
The total figures above can be broken down further by:
- Medical
- Accommodating a Disability
- Palliative care for a terminal illness
- Preventing foreclosure or forced sale of a home
- Funeral expenses for a dependant
The IVF approval rates are approximately 82% and this means that over 12,500 IVF cycles have been funded by the use of super. This average approval rate is encouraging however, they are much lower than we see at FertilityPsych.
To recap, to access super for IVF, the applicant needs to demonstrate an acute or chronic mental illness. This is essentially the service we provide.
We recommend you consider the following when reading this post:
- source of this information is the ATO and available here.
- applications are rounded to the nearest 10
- amounts approved is rounded to the nearest $100,000
- all data on this is current as at 2 March 2023.