My visa is about to expire at the end of the year. After my visa expires, i want to keep the superannuation in Australia and not apply for DASP. after when i turn to retire age, may i apply to withdraw the super payment without paying DASP tax overseas?
Hi @george.au,
No, you won't be able to access your super as a regular retirement benefit unless you're an Australian citizen, permanent resident, or meet another condition of release. As a former temporary resident, the DASP would remain your only access option when overseas, and DASP tax rates would still apply.
When your temporary visa expires, you have a choice about your super. While many temporary residents claim their super as a DASP after leaving Australia, there's no time limit to apply for DASP.
You can leave your super in Australia after your visa expires but, if you don't claim your DASP within 6 months of leaving Australia and your visa ceasing, your super fund may transfer your money to us as unclaimed super.
Some other important things to note. If your super is transferred to us as unclaimed super the tax treatment for those contributions will always be under DASP rates. Some super funds may have rules about keeping accounts open if you're offshore and not a resident for tax purposes. It's best to check with your fund directly, especially if you're planning to return to Australia or becoming a permanent resident later on.
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