Lost and Unclaimed Superannuation

Departing Australia Superannuation Payment: What is it?

DASP: Departing Australia Superannuation PaymentThe Departing Australia Superannuation Payment, or DASP, allows temporary Australian residents to be paid any superannuation that has accumulated from their employment while in Australia when they leave.

Update: the Government intends to increase the tax on DASPs for backpackers to 95%.

Claiming a Departing Australia Superannuation Payment

There are several requirements for a Departing Australia Superannuation Payment:

  • The member was on a temporary visa, excluding some visa-types, and
  • The visa has ceased, and
  • The member has left Australia

If you think you may be eligible for a Departing Australia Superannuation Payment you should confirm the process with the ATO, as it can change if the benefit is more or less than $5,000. The Departing Australia Superannuation Payment application can only be submitted after leaving Australia, but can be prepared beforehand. The application can be made online online or via a paper form, with the ATO.

The ATO says that, generally, a Departing Australia Superannuation Payment will be made within 28 days of the application for payment.

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SuperSeeker: Finding lost and unclaimed superannuation

Update: The SuperSeeker online service is currently unavailable and is unlikely to be restored. The ATO has announced that SuperSeeker will be decommissioned earlier than expectedThe ATO is directing people to the ‘Check your super using myGov’ page.

SuperSeeker is a service run by the ATO for people to search and find their lost and unclaimed superannuation.

There are many reasons why someone might have lost or unclaimed super, including:

  • Default funds from old jobs
  • Change of name
  • Change of address
  • The super fund has not been able to contact you and has transferred your superannuation to the ATO

Finding lost super is usually recommended to reduce multiple administration fees applying and to ensure that unclaimed super is receiving an investment return.

SuperSeeker Full Search

A full search of SuperSeeker allows people to check their super accounts and find lost super held by super funds, or by the ATO where it has been marked as ‘unclaimed’. You may then request that the super be transferred to another superannuation fund.

SuperSeeker received an update in 2013, so people can now request a consolidation of super funds from within SuperSeeker instead of having to contact the super funds directly.

These features of SuperSeeker now requires the use of a myGov account – like many other online ATO services, including myTax and Etax.

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