I entered Australia in 20213 on a WHM visa. I worked for a couple of months whilst travelling, but in 2014 was granted a New Zealand Citizen Family Relationship (Temporary) visa (subclass 461) via my partner, which I kept until I departed Australia in 2023.
I built a career in the 9 years I had my 461 visa and paid super on a full time job during this time. I left Australia in 2023 and have just applied via DASP to withdraw my super. The full amount has been taxed at the full 65% for the entire 10 years.I've looked this up on the ATO and it says
"If you held both a WHM visa and another type of visa – the tax rate that applies will depend on whether the DASP includes amounts attributable to super contributions made while you held a WHM visa. If it does, the DASP WHM tax rate will apply to the entire amount. If it does not, the DASP ordinary tax rates will apply.
It doesn't matter when you held a WHM visa. The DASP WHM tax rate applies if you have ever held a 417 or 462 and associated bridging visas and the DASP includes amounts attributable to super contributions made while you held the relevant visa."
Does this mean i have to pay a 65% tax rate just because I entered Aus a decade ago on a WHM visa and did a few weeks of casual bar work? This doesn't seem correct? Surely my subsequent visa that I held for 9 years should apply, with a lower rate?
If this is the case, is there a way to revoke this? Ie can I return the super to my super fund and just hold it in Australia until i turn 60 and can access it tax free?
The majority of my 10 year pension has disappeared so I'm understandably panicking!
719 views
5 replies