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Rigby(Initiate)Initiate
12 Mar 2023

Hi there - I'm an American citizen and Australian Permanent Resident (through GTI program) and would like to better understand how Superannuation funds are treated.


My understanding so far:

  • DASP can be claimed for folks on temporary visas who move away from Australia. Tax rate is ~65%.
  • You cannot claim DASP if you have are a PR


My question is: what happens if I were to move away from Australia and my PR visa expires? At that point would I then have to apply for DASP and incur the 65% tax rate? Or, can I wait until eligible retirement age still and withdraw then?

1,290 views
5 replies
1,290 views
5 replies

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Most helpful reply

CaroATO(Community Support)Community Support
14 Mar 2023

Hi @Rigby,


Once it's been more than 6 months since you left Australia and your visa has ceased to be in effect your super fund will transfer your super to us. We'll keep it until you ask for it.


We'll either tax your super at 35%, 45% or 65% depending on your circumstances.


Check out the information on our website where it talks about how and when DASP is paid.

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Most helpful reply

CaroATO(Community Support)Community Support
14 Mar 2023

Hi @Rigby,


Once it's been more than 6 months since you left Australia and your visa has ceased to be in effect your super fund will transfer your super to us. We'll keep it until you ask for it.


We'll either tax your super at 35%, 45% or 65% depending on your circumstances.


Check out the information on our website where it talks about how and when DASP is paid.

Rigby(Initiate)Initiate
22 Mar 2023

Hey @CaroATO, thanks for the quick reply. Recapping to verify my understanding:

  • I've only had contributions as a Permanent Resident (ie was never on a working holiday visa), so my tax rate would be the 35% or 45%.
  • Between those, it depends if it's the "taxed element" (35%) or the "untaxed element" (45%) of the "taxable component" (kind of confusing names, haha!)
  • If I understand correctly, the concessional contributions made by my employer on my behalf fall under "untaxed element" and have the 45% rate, right?

Thanks!

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