{"id":7684,"date":"2021-01-13T14:22:25","date_gmt":"2021-01-13T14:22:25","guid":{"rendered":"https:\/\/coffeeobsession.com.au\/?p=4695"},"modified":"2023-10-20T07:02:00","modified_gmt":"2023-10-20T07:02:00","slug":"what-happens-to-superannuation-after-finishing-your-sponsorship","status":"publish","type":"post","link":"https:\/\/absoluteimmigration.com\/news\/what-happens-to-superannuation-after-finishing-your-sponsorship","title":{"rendered":"What happens to superannuation after finishing your sponsorship?"},"content":{"rendered":"<p>If you decide to leave Australia after the completion of your sponsorship or because your temporary visa has expired or has been cancelled, you could be eligible to claim the contributions of your superannuation.<\/p>\n<p>During the period that you were living and working in Australia, your employer was allocating funds to a super account on your behalf to support your retirement so you can enjoy a regular income later in life. But what happens to that money when you leave Australia?<\/p>\n<p>When you are a temporary resident you can apply to have your super paid to you as a Departing Australia Superannuation Payment (DASP), but only when you have already left the country and meet the following conditions:<\/p>\n<p>You entered Australia on a temporary visa (excluding subclasses 405 and 410)<\/p>\n<ul>\n<li>Your visa has expired or has been cancelled<\/li>\n<li>You have departed Australia and you don\u2019t hold any other active visa<\/li>\n<li>You are not an Australian or New Zealand citizen, or a permanent resident of Australia<\/li>\n<\/ul>\n<p><strong>Step 1: Ensure your visa is cancelled<\/strong><\/p>\n<p>To claiming your super and once you have left Australia, you will need to:<\/p>\n<ul>\n<li>Check your temporary visa status: if you aren\u2019t sure if your visa has expired, check the expiry date through\u00a0<a href=\"https:\/\/immi.homeaffairs.gov.au\/visas\/already-have-a-visa\/check-visa-details-and-conditions\/overview\" target=\"_blank\" rel=\"noopener\">Visa Entitlement Verification Online system (VEVO)<\/a>.<\/li>\n<li>If your visa has not been cancelled, you will need to\u00a0<a href=\"https:\/\/immi.homeaffairs.gov.au\/visas\/cancelling-a-visa\" target=\"_blank\" rel=\"noopener\">request a cancellation<\/a>. Absolute Immigration can assist you in this process.<\/li>\n<\/ul>\n<p>Remember that your employer cannot request a cancellation for you.<\/p>\n<p><strong>Step 2: How to claim your super<\/strong><\/p>\n<p>You can claim your super directly from your super fund\u00a0<em>within six months<\/em>\u00a0of leaving Australia through two methods:<\/p>\n<ul>\n<li>Online application (free of charge): fill out the form on the\u00a0<a href=\"https:\/\/applicant.tr.super.ato.gov.au\/applicants\/default.aspx?pid=1\" target=\"_blank\" rel=\"noopener\">DASP application system<\/a>.<\/li>\n<li>Paper application (may incur a cost): complete the\u00a0<a href=\"https:\/\/www.ato.gov.au\/forms\/applying-for-a-departing-australia-super-payment\/\" target=\"_blank\" rel=\"noopener\">Application for a departing Australia superannuation payment form (NAT 7204)<\/a>\u00a0and send this form directly to each of your super funds (if you have more than one).<\/li>\n<\/ul>\n<p>However, if you haven\u2019t claimed the money_ after six months _of you departing Australia, your fund may be required to transfer the funds to the Australian Taxation Office (ATO), which will hold your super until you request it which can be done in two ways:<\/p>\n<ul>\n<li>Online application (free of charge): fill out the form on the\u00a0<a href=\"https:\/\/applicant.tr.super.ato.gov.au\/applicants\/default.aspx?pid=1\" target=\"_blank\" rel=\"noopener\">DASP application system<\/a>.<\/li>\n<li>Paper application (may incur a cost): complete the\u00a0<a href=\"https:\/\/www.ato.gov.au\/forms\/application-for-payment-of-ato-held-superannuation-money\/\" target=\"_blank\" rel=\"noopener\">Application for payment of ATO-held superannuation money (NAT 74880)<\/a>\u00a0and send it to the address listed on the form.<\/li>\n<\/ul>\n<p><strong>Step 3: Documentation<\/strong><\/p>\n<p>The general documents you will need to provide are:<\/p>\n<ul>\n<li>Passport number<\/li>\n<li>Australian Tax File Number (TFN)<\/li>\n<li>All the details for each super fund including each super fund\u2019s Australian Business Number (ABN)<\/li>\n<li>Details of the bank account you\u2019re now using overseas<\/li>\n<\/ul>\n<p>Where the value of your super money is\u00a0<em>$5,000 or more<\/em>, your super fund will require certified copies of your proof of identification documents and if you are doing the process with the paper application you will be required to provide a\u00a0<a href=\"https:\/\/immi.homeaffairs.gov.au\/form-listing\/forms\/1194.pdf\" target=\"_blank\" rel=\"noopener\">Certification of Immigration Status<\/a>\u00a0from the Department of Home Affairs.<\/p>\n<p>Although one of the conditions for claiming the funds is to be outside Australia, planning ahead and being prepared is key to get your super, especially if you need to provide certified documents. It&#8217;s much easier to certify documents while you are in the country, so you should check which documentation is required before you leave.<\/p>\n<p><strong>Step 4: How and when your super is paid?<\/strong><\/p>\n<p>After the submission of your application, the super funds will generally be paid within 28 days, however, if your application is incomplete and you need to provide additional supporting documents, it may take longer.<\/p>\n<p>For receiving the funds there are three payment options:<\/p>\n<ul>\n<li>Electronic funds transfer (EFT) to an Australian bank account<\/li>\n<li>Australia dollar cheque<\/li>\n<li>International money transfer (IMT). This option is only available when you claim the money directly from your super fund, but not all super funds offer this alternative and some fees and charges (including currency conversion) may apply.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>If you decide to leave Australia after the completion of your sponsorship or because your temporary visa has expired or has been cancelled, you could be eligible to claim the<\/p>\n","protected":false},"author":1,"featured_media":46032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"content-type":"","footnotes":""},"categories":[19],"tags":[18],"class_list":["post-7684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","tag-working-visa-australia"],"acf":[],"_links":{"self":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts\/7684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/comments?post=7684"}],"version-history":[{"count":0,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts\/7684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/media\/46032"}],"wp:attachment":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/media?parent=7684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/categories?post=7684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/tags?post=7684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}