Leaving Australia and Financial Hardship

Leaving Australia

If you have worked in Australia as a temporary resident, you may be eligible to access your superannuation upon leaving the country. This is known as a Departing Australia Superannuation Payment (DASP).

Accessing your superannuation

To access your superannuation under this rule you must:

  • have held a temporary visa* while residing in Australia,

  • have permanently departed from Australia, and

  • withdraw your entire benefit as a single lump sum.

The ATO DASP - Online application system is a secure free online service which allows you to apply for your superannuation benefits regardless of which financial institution your super is currently with. It also allows you to track the progress of your application.

When applying online you'll need the ABN and SPIN for your BT product.

Certified Identification Required

If your account balance is over $5,000, after submitting your request via the ATO DASP Online application system, you need to send us a certified copy of a foreign passport or similar travel document that contains a photograph and signature.

This must be posted (not emailed) to us:

Mailing Address:
BT Super for Life
GPO Box 3958
Sydney NSW 2001
AUSTRALIA

How to get your documents certified

To certify a document, take the original document and a photocopy to one of the people listed in the categories below and ask them to certify that the photocopy is a true and correct copy of the original document. That person will need to print their name, date and the capacity in which they are signing.

Who Can Certify Documents Outside Australia?

  • Consular staff at an Australian

    - Embassy
    - High Commission
    - Consulate

  • Notary public

  • Justice of the Peace

  • Judge of the court

  • Registrar or deputy registrar of a court

We also require evidence of the certifier's status. For example; Judge or Magistrate - Certificate of their appointment to their position

For further information refer to the ATO website.

If you do not wish to apply using the ATO DASP - Online application system, please call us on 132 135 (+61 2 8222 7154 if calling from overseas) or email customer.relations@btfinancialgroup.com.

 

Will your DASP be taxed?

Tax will be withheld on your Departing Australia Superannuation Payment. Refer to the ATO website for current tax rates and further information

How will your DASP be paid?

When you apply for your DASP online, generally you will be sent a cheque in the mail within 28 days of BT receiving the information we require. This will be sent to the address you supplied in your online DASP application.

Rather receive your payment directly into your bank account?

  • All Australian Bank Accounts

    You can nominate to have the funds paid into an Australian bank account in your name by supplying your Australian bank account details including the BSB and account number when completing your online application. We are unable to make any payments to international bank accounts. If you do not nominate an Australian bank account, a cheque in $AUD will be posted to you. Please allow a further 3 – 4 weeks for this to arrive by international post.

  • BT Super for Life Accounts

    If you want your DASP paid to the bank account which is linked to your BT Super for Life account, please email your request to us including your BSB and account numbers, to us at customer.relations@BTSuperForLife.com.au.

  • If you wish for your DASP to be made to a Westpac bank account held in your name, you may email your payment instructions to us at customer.relations@btfinancialgroup.com.

Please advise in your request if you are applying online for your Departing Australia Superannuation Payment along with your [member /account/investor number]. We are unable to pay funds to an overseas bank account and all payments are made in Australian dollars.

Why has my application not progressed?

The ATO DASP - online service automatically confirms your visa status and eligibility status to claim under DASP conditions through the Department of Immigration and Border Protection (DIBP). Generally to obtain this information has associated costs.  

Financial hardship

There are limited circumstances that may enable you to access part (or all) of your super benefits prior to retirement, such as severe financial hardship.

Are you eligible?

If you are an Australian citizen, New Zealand citizen, a permanent resident or if you are, at any time, the holder of a Subclass 405 (Investor Retirement) visa or a Subclass 410 (Retirement) visa, you may be eligible for release of benefits under severe financial hardship.

Tax may be payable on your withdrawal.

How you withdraw your funds is determined by your category.

Category A

You can apply for the early release of your super benefits on a financial hardship basis if you:

  • have been receiving prescribed Australian Government income support payments continuously for at least 26 weeks immediately prior to the time of this application, and

  • are able to satisfy the Trustee that you are unable to meet reasonable and immediate family living expenses.

The maximum amount you can receive is a single lump sum of no more than $10,000 gross (before tax) in any 12-month period.

Your request must be at least $1,000 (except where your benefits are less than this amount).

How to apply:

Send us:

  • written evidence from a Commonwealth Department or Agency with either Centrelink's Q230 letter or a letter from The Department of Veterans' Affairs or a Commonwealth Community Development Employment Project (CDEP) grantee organisation

  • A Financial Hardship Claim form obtained by calling us on 132 135 (+61 2 8222 7154 if calling from overseas) or email customer.relations@btfinancialgroup.com.

Category B

You can apply for the early release of your super on a financial hardship basis if you:

  • have reached your preservation age (i.e. 55 - 60 years, depending on when you were born) and 39 weeks, and

  • have been receiving prescribed Australian Government income support payments for a cumulative period of at least 39 weeks since reaching your preservation age, and

  • are not employed on a full-time or part-time basis at the time of this application.

If you satisfy the above requirements, you may access your entire benefit.

How to apply:

Send us:

  • written evidence from a Commonwealth Department or Agency with either Centrelink's Q251 letter; or

  • a letter from The Department of Veterans' Affairs or a Commonwealth Community Development Employment Project (CDEP) grantee organisation

  • A Financial Hardship Claim form obtained by calling us on 132 135 (+61 2 8222 7154 if calling from overseas) or email customer.relations@btfinancialgroup.com.

Unsure if your payment qualifies as a prescribed Commonwealth income support payment?

Don't worry; you should still request written evidence for the trustee to assess your claim.

See also Making a withdrawal - conditions

* A temporary visa is a visa issued under the Migration Act 1958 that allows a person to remain in Australia during a specified period; until a specified event happens; or while the holder has a specified status

Superannuation is a long-term investment. The Government has placed restrictions on when you can access your preserved benefits. The Government has set caps on the amount of money you can add to superannuation each year on a concessionally taxed basis. In addition, the Government has set a non-concessional contributions cap. For more detail, speak with a financial adviser or visit the ATO website.