Superannuation

In Australia, companies are required to pay a proportion of employee’s salaries and wages (currently nine percent) into a retirement fund more commonly known as a superannuation fund. This money can be accessed when employees retire usually after the age of 60. However, if you are an international student who work in Australia during your studies and have been paid $450 or more in a calendar month you can have access to this money when you exit the country.

If you are eligible, you may be entitled to receive this money when you leave Australia. This payment is called the departing Australia superannuation payment (DASP). To access your money you need to fill an application online or through a paper form.

To access the system please visit the Australian Tax Office website http://www.ato.gov.au/super/pathway.asp?pc=001/007/126

To apply you will need the following information. It is important to understand all of these details before you depart Australia.

• Your name, date of birth and other personal details.
• Your e-mail address.
• Your passport number.
• Your Australian Tax File Number (optional).
• Your superannuation account details - including your superannuation provider's Australian Business Number (ABN). You may use the system to conduct a search for the ABN based on the fund's name.

For more information please asked the Australian Tax Office (ATO) or your superannuation provider.

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