DEPARTING AUSTRALIA SUPERANNUATION REFUND
If you are a temporary resident in Australia and departing from Australia permanently, then S & S Accounting and Business Services will process your application to receive the refund of your superannuation amount held in Australia. What is Superannuation?
Before anything else, what is superannuation? Superannuation is the money that your employer puts aside throughout your working life. This sum of money will help you live for when you retire from work. You can only withdraw your superannuation money in certain circumstances, for instance, when you retire or once you turn 65 years old.
How Do You Save Superannuation?
Generally, the employer pays contributions to a superannuation account for you. These contributions are payments on top of your salary and wages. Whether you are a casual worker, a part-timer, a full-time employee or a temporary resident– your employer must pay for the contribution for your superannuation.
Claiming Your Superannuation
Claiming your superannuation can be a tedious task if done on your own. S & S Accounting and Business Services professionals knows the ins and outs of the process. If you are just a temporary resident in Australia, but you have worked and earned during your stay– then you can apply for your superannuation paid to you as a departing Australia superannuation payment (DASP) after you leave. Make sure that you check with your employer if they have paid all the necessary contributions for your superannuation. Once you are sure that your employer has done their part, let S & S Accounting and Business Service handle the rest.