Hello,
I left Australia at the end of May 2024 after being on Work and Holiday Visas (WHV) and associated bridging visas for about five years. I know I can apply for a Departing Australia Superannuation Payment (DASP), but I understand this will result in a 65% tax deduction, which I want to avoid if possible.
By next month, it will be six months since I left Australia, and I’ve heard that my super could be transferred to the ATO after this period. My concern is that once transferred to the ATO, the funds may stop earning investment returns and only receive CPI-based interest, which could limit growth over time.
To complicate things, I’ve applied for a new visa to return to Australia. However, there’s no certainty about when or if I will get it — it could be soon, much later, or never.
Ideally, I’d like to keep my super account active so I can continue contributing if I return with a new visa. But I also want to ensure I don’t lose the benefits of my super being managed within the fund if it gets transferred to the ATO.
- Is there a way to prevent my super from being transferred to the ATO after six months?
- If I don’t return to Australia, can I still access my super from overseas once I reach retirement age?
- What are my options for keeping my super active and preserving the ability to contribute if I return to Australia with a new visa in the future?
Thanks in advance for any guidance!
1,533 views
3 replies