Understanding Departing Australia Superannuation Payment (DASP):
A Guide for International Workers
If you are an international worker in Australia on a temporary visa, it is essential to familiarize yourself with the Departing Australia Superannuation Payment (DASP).
Claiming superannuation when leaving Australia allows eligible individuals to claim superannuation contributions when they leave Australia permanently.
In this article, we will explore the key aspects of DASP, including eligibility criteria, the application process, and important considerations.
Understanding DASP will help you make informed decisions regarding your superannuation funds when departing Australia.
- What is Departing Australia Superannuation Payment (DASP)?
The Departing Australia Superannuation Payment (DASP) is a lump sum payment made to eligible individuals who hold a temporary visa in Australia and are leaving the country permanently. It allows them to claim the super contributions made by their employers during their stay.
- Eligibility Criteria for DASP:
To be eligible for DASP, you must meet the following criteria:
a) You must hold a temporary visa in Australia.
b) You are leaving Australia permanently.
c) You are not an Australian or New Zealand citizen or a permanent resident of Australia.
d) Your visa has ceased or will cease to be in effect within six months of the DASP application.
- How to Apply for DASP:
To apply for DASP, follow these steps:
a) Gather required documents:
Prepare a copy of your passport, visa details, and your Australian Tax File Number (TFN) or a certified copy of your TFN exemption certificate.
b) Create an online account: Visit the Australian Taxation Office (ATO) website and create an online account.
c) Lodge your application:
Complete the DASP online application form, providing accurate details about your superannuation fund(s) and employment history. Attach the required documents and submit the application.
d) Track the progress:
You can track the progress of your application through your online account or contact the ATO for assistance.
- Important Considerations:
a) Taxation: DASP is subject to taxation.
The tax rates vary based on various factors, such as your country of residence, the length of your stay in Australia, and the Double Tax Agreement between Australia and your home country.
Please seek professional tax advice to understand your tax obligations.
b) Consolidating super funds:
Before departing Australia, consider consolidating your super. This will assist consolidation simplify future transactions and save you from paying unnecessary fees.
c) Claiming superannuation held by the ATO:
If you have lost track of your superfunds or your employer failed to make contributions on your behalf, the ATO may hold your super.
You can check if you have any unclaimed super using the ATO's online services.
As an international worker in Australia, understanding the Departing Australia Superannuation Payment (DASP) is crucial when you decide to leave the country permanently.
Understanding eligibility criteria, the application process, and important considerations such as taxation and consolidation, you will navigate the DASP process smoothly and ensure you will receive the super contributions you are entitled to.
Be sure to consult relevant authorities or seek professional advice to make informed decisions about your superannuation funds when departing Australia.