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Super 457 Visa

Newbie

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Hi,

 

I've been on a temporary WHV for a short while and have been offered to be sponsored on the 457 visa. I have recently just set up a super with my job, I plan on working here fore the next 2 to 4 years in my current job on the 457 what happens to my super upon leaving Australia?

 

 

Many thanks,

S

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ATO Certified Response

Devotee

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Hi @smcgo

 

Welcome to ATO Community!

 

Before trying to answer your question, I also suggest you frequently check that your employer is paying your super correctly.

 

Upon leaving Australia, your super will remain in the fund that you employer has been paying into. You can choose to leave your super where it is, and manage it from afar (talk to your fund or seek financial advice in relation to this), or alternatively, you may be eligible to apply for a Departing Australia Super Payment (DASP).  The ATO Community has provided a series of 'Knowledge base articles' on DASP here.

 

You mentioned that you’re transitioning from a WHM visa to a 457 – it may be important to note that From 1 July 2017, DASPs that are made to working holiday makers are taxed at 65%. Even if you worked under a different type of visa for part of your stay, if you were working (and earning super) on a WHM visa at any time, the 65% tax rate applies to the total DASP.

 

Neither the DASP payment nor the tax should be included in your tax return, as it is a non-refundable final tax.

 

Hope this helps.

 

(I'm an ATO employee helping out here voluntarily - thoughts are my own).

 

 

1 REPLY 1

Most helpful response

ATO Certified Response

Devotee

Replies 0

Hi @smcgo

 

Welcome to ATO Community!

 

Before trying to answer your question, I also suggest you frequently check that your employer is paying your super correctly.

 

Upon leaving Australia, your super will remain in the fund that you employer has been paying into. You can choose to leave your super where it is, and manage it from afar (talk to your fund or seek financial advice in relation to this), or alternatively, you may be eligible to apply for a Departing Australia Super Payment (DASP).  The ATO Community has provided a series of 'Knowledge base articles' on DASP here.

 

You mentioned that you’re transitioning from a WHM visa to a 457 – it may be important to note that From 1 July 2017, DASPs that are made to working holiday makers are taxed at 65%. Even if you worked under a different type of visa for part of your stay, if you were working (and earning super) on a WHM visa at any time, the 65% tax rate applies to the total DASP.

 

Neither the DASP payment nor the tax should be included in your tax return, as it is a non-refundable final tax.

 

Hope this helps.

 

(I'm an ATO employee helping out here voluntarily - thoughts are my own).