Did you know...
Your departing Australia superannuation payment is subject to special rates of tax.

Kellie Doonan
QSuper member since 2007

If you have entered Australia on an eligible temporary resident visa you can claim your Australian superannuation benefits once you have permanently departed the country.

What documents do I need to provide?

Superannuation Industry (Supervision) (SIS) legislation requires QSuper to verify your immigration status before we can process your claim.

If your account balance is over $5,000, you are required to provide:

• written advice of your visa eligibility status from the Department of Immigration and Citizenship.

This document should state you were the holder of an eligible temporary resident visa that has expired or has been cancelled, and you have permanently left Australia.

If your account balance is less than $5,000, you are required to provide:

• a copy of your expired or cancelled eligible visa (or evidence of such a visa), and
• a copy of your passport showing you have departed Australia.

A list of eligible visas is included in our Departing temporary resident claim fact sheet (pdf).

How is the benefit taxed?

The departing Australia superannuation payment is subject to special rates of tax. These are deducted by QSuper at the time of payment and then forwarded to the Australian Taxation Office. The superannuation lump sum payment will not be included in your assessable income.

Superannuation lump sum payments consist of two possible tax components – a tax-free component and a taxable component. The tax rates are nil for the tax-free component and 30% for the taxable component.

How long does it take to pay a claim?

We aim to process claims within three to five working days from when your claim form is received, provided all required information has been supplied. However, in the event of a significant market correction, we may suspend processing until the market movements can be incorporated in the unit price. If you have recently been employed, your claim cannot be processed until your pay office has confirmed your final contributions and these contributions have been received by us. The unit price on the date of payment will be applied to your withdrawal.

What are the methods of payment?

There are two payment options:

• payment paid to your account with your financial institution
• bank draft in Australian dollars.

Note: If you choose to take the bank draft option, a bank charge will be deducted from your benefit. You should check with your financial institution as to whether they will accept a bank draft in Australian dollars, and also if they will charge you any additional fees for having the amount deposited into your account, or for cashing in the bank draft.

Making the choice

Whether you choose to withdraw your super benefit or leave it in QSuper will depend on your personal circumstances. You may like to consult a personal financial adviser to help you decide what the best decision is for you.