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Bankruptcy and Superannuation

Monies held in a superannuation fund are protected and not available to your bankrupt estate provided they have been accumulated legitimately over time.

Monies drawn down from your superannuation fund prior to bankruptcy will lose the superannuation protection and will be available to your bankrupt estate.

Monies legally drawn down from your superannuation fund subsequent to the commencement of your bankruptcy remain protected and are not available to your bankrupt estate. Property you buy with these monies is also protected.

Monies your employer pays to your superannuation fund as statutory superannuation contributions during your bankruptcy are protected and are not available to your bankrupt estate.

You cannot be a Trustee of your Self Managed Superannuation Fund during the period of your bankruptcy.

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Alan Nicholls Bankruptcy Advice

Alan Nicholls specialises in assisting those in financial difficulty through the process of understanding & filing for bankruptcy. For more details see the contact information below: