Happy travels but super has to stay put
Monica Rule, author of The Self Managed Super Handbook, points out that there is no legislative provision that permits Australian residents or citizens to access their superannuation on the basis that they have left the country. For example, an Australian citizen who is 37 and decides to leave the country permanently will be unable to access their superannuation until they meet a condition of release such as retirement, temporary and/or permanent incapacity or death.
If the person entered Australia under a temporary resident visa, they may be able to access their superannuation when they leave Australia under the Departing Australia Superannuation Payment (DASP) provisions. The tax-free component is paid tax-free; the taxable component is subject to withholding tax at 35 per cent.
Frequently Asked Questions about this Article…
No. There is no legislative provision that allows Australian residents or citizens to access their super simply because they have left the country. You can only withdraw super if you meet a recognised condition of release such as retirement, temporary or permanent incapacity, or death.
Leaving Australia alone does not give you the right to access your super. Even if you’re leaving because of divorce, Australian law requires you to meet a condition of release (for example retirement or permanent incapacity) before you can access your superannuation.
No. An Australian citizen or resident who leaves permanently at age 37 will not be able to access their super until they satisfy a condition of release such as retirement, temporary or permanent incapacity, or death.
Conditions of release mentioned in the article include retirement, temporary and/or permanent incapacity, and death. You must meet one of these conditions before you can withdraw your superannuation.
Possibly. If you entered Australia on a temporary resident visa you may be eligible to access your super when you leave under the Departing Australia Superannuation Payment (DASP) provisions.
DASP is a provision that may allow temporary visa holders to claim their superannuation when they leave Australia. Eligibility is tied to temporary resident visa status rather than simply leaving the country.
Under DASP rules, the tax-free component of your super is paid tax-free. The taxable component is subject to a withholding tax at 35% as described in the article.
No — changing residency or leaving Australia does not automatically allow access to super for Australian citizens or residents. Only temporary residents may be able to access super under DASP when they depart; others must meet a recognised condition of release to withdraw funds.
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