Looking for a SMSF lawyer to help me...

[Cruisey]

Hello,
I am a new forum member and seriously have struggled with depression since my wife died unexpectedly in 2010. I have two young kids I'm trying my best to bring up despite the daily pain and lowness.
I lost my managers job to be able to care for my kids around their primary school timetable.
Since then I have had long periods of unpaid sick leave and got more and more into debt.
To cut a long story short, I have had to use funds from my SMSF to survive whilst sick. Now the ATO have decided that I have to repay over $100,000 back into my Super Fund. They have said that I will probably have to sell our own unit just to pay back my own Super Fund.
I really need the help of an SMSF specialist who has dealt with a similar situation because of depression and doesn't charge $400 per hour as a 'specialist'.
I'm feeling very scared and not be forced to sell our family home. This will just make my condition worse.
I would appreciate any advice or referrals from others.
Many thanks
Cruisey

[girl99]

Hi Cruisey,

Do you know the rules that apply to your SMSF?  

I know for 'normal' super funds you can usually have access to your super if you can show 'severe financial hardship' - this includes being on Centrelink payments for over 26 weeks.

The ATO website states that to release super benefits under 'severe financial hardship' you need to be satisfied that the member:

1. can't meet reasonable and immediate family living expenses, and
2. has been receiving relevant government income support payments for a continuous period of 26 weeks and was receiving that support at the time they applied to the trustees.

Sorry I don't have expertise in this area and someone on here might be able to provide more help, but if you go to Google and type in 'financial hardship and SMSF' lots of articles appear - including some ATO Rulings on this - hope this helps a bit and I'm sorry to hear about your wife and your situation.  

Really hope things improve for you soon - and worst case scenario - if they do ask you to pay it back,  ask to do a payment plan with the ATO - you can maybe pay it back in small payments over a period of time?  I know a few people who have ATO debts and they usually will try to work with you and not make you homeless.  Good luck

[Fancy_Pants]

Hi @Cruisey

Warm welcome to the forums. I am so sorry to hear about your wife passing I cant imagine the grief and challenges you and your children are facing, you must have overcome a lot to get though this far... I'm afraid I dont have any specific recommendations but I was wondering if you have spoken to the SMFS association  08 8205 1900  they have a "find a specialist" function? I am not sure if Legal Aid could help but they have a free phone line 1300 792 387 if you wanted to check? and as girl99 suggetsed if absolute worse case the ATO have a special phone line for hardship caused by them (an ATO penalty) 13 11 42. here which suggests that they are ammenable to payment plans..?

I hope you have some luck, please keep us updated