Are you in need of dental treatment but struggling to afford the costs? Did you know that you may be able to access super for dental to cover the expenses? This may be a viable option for individuals who cannot afford essential dental costs or are ineligible for public health treatment.
Oral Square Dental Care knows you have questions about using super for dental and so the following is a guide on accessing superannuation for dental treatments, including the eligibility criteria, application process, and advantages and disadvantages of using superannuation for dental treatments.
Compassionate Release of Superannuation
Accessing superannuation for dental treatments involves using your retirement savings to cover the costs of dental treatment. To be eligible for compassionate release of superannuation in Australia, you must meet certain criteria, such as:
- a life-threatening illness or injury
- acute or chronic pain
- an acute or chronic mental illness
It’s important to seek advice from a financial adviser before using superannuation for dental treatments, as there may be other options available to you.
How to Access Superannuation for Dental Treatments
To access your superannuation for dental treatments, you will need to submit an application to the Australian Taxation Office (ATO). The application must include documentation from your dentist outlining the treatment required and the costs involved. Dental treatments that are eligible for superannuation funding include orthodontic treatment, dental implants, and major dental surgery.
To access superannuation for dental treatment, you need to be eligible to receive your superannuation. This means that you must:
- Have reached the preservation age – 55 years old. (You cannot access super under the age of 18)
- Not have any other funds available for treatment (such as private health insurance or personal savings)
- Provide medical documentation that demonstrates the essential need for the treatment
Superannuation Dentist Tarneit
Oral Square Dental Care dentists are dental professionals who specialise in helping patients access their superannuation for dental treatments. We can assist with the application process and provide guidance on the eligibility criteria and documentation required.
If you would like assistance with compassionate release of superannuation please contact us.
Advantages of Using Superannuation for Dental Treatments
Using superannuation for dental treatments can provide a much-needed financial lifeline for those who cannot afford the costs of dental treatment. Advantages include the ability to access funds that would otherwise be unavailable and the potential to improve your oral health, overall wellbeing and regain your quality of life.
Disadvantages of Using Superannuation for Dental Treatments
It’s important to seek professional financial advice and carefully consider your options before accessing your superannuation for dental treatments. Disadvantages include the impact on retirement savings and the potential tax implications, so make sure you have explored all options, such as private health insurance.
Oral Square Dental Care Can Help
Accessing super for dental work can be a viable option for those in need of dental treatment but struggling to afford the costs. At Oral Square Dental Care, we are committed to providing high-quality dental care to our patients. If you’re considering accessing your superannuation for dental treatments, we encourage you to book a consultation with one of our experienced dentists to discuss your options.