Condition of release
Temporary residents permanently departing Australia
A temporary resident who has worked and earned super whilst working in Australian on a temporary visa can apply to have there super benefits to them as a departing Australia Superannuation payment (DASP) after they leave Australia. The superannuation fund must comply with this request (with the exception of unfunded public sector superannuation schemes) and the payment must be made within 28 days. This payment is known as departing Australia superannuation payment (DASP). The benefit (DASP) is taxed before they receive it. The DASP tax rate is different for working holiday makers (WHM). Members holding a 417 (working holiday) or 462 (work and holiday) visa are classified as a WHM.
The member should check with their employer to confirm that they have paid all of their super to the fund.
The eligibility requirements for DASP
A member can claim a departing Australia superannuation (DSAP) if the following apply:
- The member whilst working in Australia on a temporary resident visa has accumulated superannuation benefits
- The visa has expired or been cancelled
- The member has left Australia and they do not hold any other active Australian visa
- The member is not an Australian or New Zealand citizen, or a permanent resident of Australia.
|Note: If they are a New Zealand citizen leaving Australia permanently, they may be able to transfer their super to New Zealand under the Trans-Tasman retirement savings portability scheme for individuals.|
Acting on your behalf
A temporary resident can authorise someone else to apply for their DASP. The person nominated will be able to act on their behalf and update their information, so consider carefully the person nominated.
The nominated person will need a written authority from the temporary resident before they submit the DASP application.
Nomination can either be:
- a tax agent with full registration or conditional tax agent registration with the Tax Practitioner Board for the purpose of claiming DASP
- the DASP paper form with representative details
This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.
Last modified: Wednesday, September 23, 2020