Taking your super home
If you're a temporary resident (on a specific visa) who has departed from Australia, you might be able to apply for the early release of your superannuation. This excludes New Zealand citizens.
You can claim your super if:
- You were a temporary resident who visited Australia on a temporary visa
- Your visa has expired or been cancelled, and
- You have left Australia.
But if you don't apply within six months after you leave Australia or your temporary visa expires or is cancelled - whichever is the latest - we are required to transfer your money to the Australian Taxation Office (ATO) where it will not earn interest.
The good news is you can apply online to take your super home.
At a glance
- Temporary residents who have left Australia can apply for their super through the ATO or via AMP
- Withholding tax will be deducted from super payments made to former temporary residents
- Super that is not claimed within six months of departure or visa expiry will be transferred from the super fund to the ATO.
How to applyShow more
The payment of a temporary resident's superannuation benefit is called a Departing Australian Superannuation Payment (DASP). This is how the process works from application to payment.
- You lodge an application online on the ATO website.
- The ATO will forward your details to AMP.
- We will contact you for further information including your bank details for payment.
- Your benefit can then be released to you. Withholding tax will be automatically deducted.
If you'd prefer to apply for your DASP through AMP you can download a form specific to your product. Or if you have any questions, please contact us at email@example.com or +61 2 8048 8162 (outside Australia) or 131 267 (within Australia).
Tax ratesShow more
Australian superannuation funds are required to withhold tax when making a DASP payment to a former temporary resident.
The withholding tax rates for DASPs outlined by the ATO are:
- 0% for the tax-free component
- 38% for a taxed element of a taxable component1.
- 47% for an untaxed element of a taxable component (public sector funds)1.
1 This rate includes the impact of the temporary budget repair levy, which applies to payments made during the 2014-15, 2015-16 and 2016-17 financial years.
What you need to knowShow more
- These conditions apply to people who have entered Australia on a temporary working visa under the Migration Act 1958 (except visas under subclasses 405 and 410).
- In order to claim your super you must have left Australia and your temporary visa must have expired or been cancelled.
- This doesn't apply to New Zealand citizens as they are allowed to return and retire in Australia.
- This does not apply to people entering Australia on a retirement visa (i.e. sub-class 405 or 410).
- You can enter your personal details online before leaving Australia and then update them and lodge your DASP application after you've left Australia.
Important informationShow more
Any advice in this document is general in nature and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of this advice having regard to those matters and consider the Product Disclosure Statement before making a decision about the product.
AMP Life is part of the AMP Group and can be contacted on 131 267. If you decide to purchase or vary a financial product, AMP Life and/or other companies within the AMP Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details.