Superannuation tax

[#1]

Hello

I have visited Australia on student sublass 500 (student) visa. I would like to ask what is the tax when I claim super. I found information on ATO website that withdrawing tax 65 % is only for Work holiday visa and for student courses there is a 35 % tax

https://www.ato.gov.au/Individuals/Super/In-detail/Temporary-residents-and-super/Super-information-f...

Please can you explain for me is it something changed ?

All the best 

GREGOR

[#2 · Accepted solution]

Hi @GregorGorka, 

Thanks for posting! We've recently updated some of our content on our website due to changes made by the Australian Government, though the tax rates for departing Australia super payments (DASP) remain the same. 

You need to meet certain eligibility criteria to be able to claim a DASP: 

• you accumulated superannuation while working in Australia on a temporary resident visa issued under the Migration Act 1958 (excluding Subclasses 405 and 410)
• your visa has ceased to be in effect (for example, it has expired or been cancelled)
• you have left Australia
• you are not an Australian or New Zealand citizen, or a permanent resident of Australia.

If you've ever accumulated super while you held a 417 or 462, the DASP WHM tax rate of 65% will apply - even on super you may have earned while working under a different visa. If you've never accumulated super while working on a 417 or 462 visa, you'll pay a 35% tax when you withdraw your super - check out the tax table on our website to find out more. 

Thanks!

[#3]

If you've ever accumulated super while you held a 417 or 462, the DASP WHM tax rate of 65% will apply - even on super you may have earned while working under a different visa. If you've never accumulated super while working on a 417 or 462 visa, you'll pay a 35% tax when you withdraw your super - check out the tax table on our website to find out more. 

I have one more question

If I change WH visa for another one, I understand that DASP WHM rate will be 65% becuase it is 1 and the same Superannuation tax and fund earn  also under WH visa.

I do not mention about WH Visa becuase I though it does not matter in my situtation

What about this situation. I was in Australia under WH visa. I left Australia and apply for Super in December 2016. Last year I hold 500 visa. In this situation I have to pay 65 %  or 35 % tax. 

Thank you very much in advance for your answer   

[#4]

Hi @GregorGorka

Your question: “I was in Australia under WH visa. I left Australia and apply for Super in December 2016. Last year I hold 500 [student] visa. In this situation I have to pay 65% or 35% tax?”

The answer likely depends on whether ANY component of the amount you intend to claim from your super fund includes contributions made while you were on a working holiday (WHM) visa. If yes, the 65% tax rate will probably apply to the total DASP.

It doesn’t matter when the super was accumulated (paid into the fund by your employer), as the DASP tax rates apply to DASP claims processed from 1 July 2017 onward.

You fund will determine the tax rate when you apply for your DASP - check out this page which provides info for funds in this situation. 

Hope this helps.

(Disclaimer: ATO employee - here voluntarily helping answer questions)

[#5]

yes thank you very much

[#6]

I will ask one more time 

Where I have to clarify my situation, I have already contacted to my bank but they send me directly to ATO (I have got an information that they have been advised by the ATO).

Thank you in advance

[#7]

Hi @GregorGorka,

Thanks for your question! If your super fund can't contact you by email or letter, they are required to send us your super so we can look after it for you. This makes sure your super isn't eaten up by fees and charges.

If your super fund isn't looking after your super, you can request your DASP from us directly. Find out how by reading our Guide to claiming your departing Australia superannuation payment (DASP) online - Getting started.

It takes about 28 days to process your application, and we'll send you a cheque in the post with your payment once it's complete.

We can't advise how much you'll receive as your DASP - Community is a public forum, and we don't share personal information online.

Thanks.