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Superannuation FAQ's

 

What is superannuation?

Superannuation is a compulsory pension fund that is paid into by employers, for their employees. Once you earn over $450 in a calendar month then your employer is legally obliged to pay 9-9.5% of your earnings into a superannuation fund for you. You are entitled to this no matter what visa you are on.

How do I know which fund I am with?

When you start a job, you can either nominate your own super fund, or your employer will choose one for you. You may receive some paperwork and a membership card from your fund. Keep these in a safe place. You may also see the name of your super fund on your payslip. If you don't know your fund/s, we can get this information for you.

When can I apply for a refund of this money?

You are eligible to claim your superannuation back as soon as you have departed Australia. Your current visa needs to have expired, or we can cancel it early for you. The payment that you will receive is called a Departing Australia Superannuation Payment (DASP). Please note that this payment is not available to Australian citizens, permanent residents, or New Zealand Citizens.  

How much will I get?

Taxback Australia ensures that you receive the maximum amount possible. The balance of your Super Fund is subject to fluctuations in the share market, and admin/management fees applied by your fund. It is also subject to 38% tax upon withdrawal.

Average refund is $2605!

 

Will claiming back super affect me re-entering Australia? 

Claiming back your super will not affect any future visits or visa’s to Australia. We do recommend however that If you intend on returning whilst we are still processing your refund (within 12 weeks approx.) that you do not apply for your super refund just yet as it can affect visa applications in progress at the time.    

What does the process involve? 

  • We communicate with the Department of Immigration to cancel/confirm expiry of your visa ,
  • We chase up your employers for your super details and to ensure they have paid all of your super into the your fund.

  • We will also check for any lost super with funds and the ATO to make sure you don't leave anything behind.

  • Once your super has been paid up by your employer, we then apply to your super fund for your refund, and complete all forms and documents required for this.

  • We continue to chase up your fund until they release your money.   

  • When we receive in your refund, we'll then pay to you straight away.

  • We can pay into any Australian or International bank with no extra payment fees.

Apply now online or contact us super@taxbackaustralia.com  

call us on 1800 121550.





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