ATO website CRASHES as thousands rush to withdraw superannuation

ATO website CRASHES as thousands of Australians rush to withdraw second $10,000 from their superannuation

The Australian Taxation Office website has crashed as thousands have rushed to withdraw a second $10,000 from their superannuation.

Australians struggling financially amid the coronavirus pandemic were granted another opportunity to dip into their retirement fund from July 1. 

The site crashed within half an hour of the new financial year, with users reporting outages from as early as 12.14am on Wednesday morning.

The federal government announced the Early Release Super Scheme in March, which would allow Australians to access $20,000 of their superannuation over two years.

The first $10,000 could be withdrawn during the 2019-20 financial year, and the same amount again during the 2020-21 financial year. 

More than 2.2 million approved applications have withdrawn a combined total of $18.5 billion since the federal government launched its early access to superannuation scheme in April to provide relief for those hit hard by the pandemic. 

More to come.