Overseas access to Aussie super
Monday 14 April, 2008 | SuperLiving
Q:
Q: IF I AM declared a non-resident (i.e. an Australian living abroad) am I able to withdraw my super contributions without penalty?
Our expert, Neil Dearberg, is a certified financial planner with Lifestyle Financial Solutions.A: Unfortunately, no. Allow me to explain.
Australian and New Zealand citizens and other permanent residents who are able to return to Australia and claim an age pension cannot access their superannuation prior to Preservation Age, even if they are deemed to be non-residents. So if you are an Aussie or Kiwi, it’s stay here, or go but wait until your preservation age (between age 55 and 60 depending on your date of birth).
If, however, you were a temporary resident in the first instance (not an Australian or NZ citizen) and your visa was cancelled or expired, you may be eligible under the Departing Australia Superannuation Payment scheme to access your super.
Our Expert, Neil Dearberg's phone number is 07 5479 1977 and his website is www.lifestylefs.com.au
