Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Reclaiming Super

  • 04-03-2020 6:10am
    #1
    carrollsno1
    Registered Users, Registered Users 2 Posts: 2,231 ✭✭✭


    Leaving next week, end of 2nd year visa planning on coming bavk in a few years on a permenent visa would this affect me if i claim back my super now?

    Better living everyone



Comments

  • #2
    AngryHippie
    Registered Users, Registered Users 2 Posts: 2,625 ✭✭✭AngryHippie


    Yes it will.

    You'll pay an absolute ball of tax on it now (65%), then you'll have a pain trying to re-establish a Superfund on your return.

    if you plan to return Leave it there. If you are going to be away for over 12 months, throw a token deposit into it next year to keep your Insurance policies live. Then get back into it when you return.

    If you 100% definitely aren't coming back, clean it out and pay the tax.


    https://www.ato.gov.au/super/apra-regulated-funds/paying-benefits/departing-australia-superannuation-payment/


  • #3
    carrollsno1
    Registered Users, Registered Users 2 Posts: 2,231 ✭✭✭carrollsno1


    AngryHippie wrote: »
    Yes it will.

    You'll pay an absolute ball of tax on it now (65%), then you'll have a pain trying to re-establish a Superfund on your return.

    if you plan to return Leave it there. If you are going to be away for over 12 months, throw a token deposit into it next year to keep your Insurance policies live. Then get back into it when you return.

    If you 100% definitely aren't coming back, clean it out and pay the tax.


    https://www.ato.gov.au/super/apra-regulated-funds/paying-benefits/departing-australia-superannuation-payment/

    Ah itll be 5 years before im back anyway before i get qualified and post apprenticeship experience so if im on an apprentices wage for tbe next 4 years i dont want to be sending that money over here, plus between annual charges and the like it would be well reduced by the time i get back if i just leave it sitting there. Im aware of the big tax on claiming it back but im mainly concerned about it affecting future visas

    Better living everyone



  • #4
    AngryHippie
    Registered Users, Registered Users 2 Posts: 2,625 ✭✭✭AngryHippie


    carrollsno1 wrote: »
    Ah itll be 5 years before im back anyway before i get qualified and post apprenticeship experience so if im on an apprentices wage for tbe next 4 years i dont want to be sending that money over here, plus between annual charges and the like it would be well reduced by the time i get back if i just leave it sitting there. Im aware of the big tax on claiming it back but im mainly concerned about it affecting future visas

    Just leave it there so. It's linked to your tfn, so it will cause dramas down the track if you withdraw it.

    Is the annual interest more than the fees ?


  • #5
    carrollsno1
    Registered Users, Registered Users 2 Posts: 2,231 ✭✭✭carrollsno1


    AngryHippie wrote: »
    Just leave it there so. It's linked to your tfn, so it will cause dramas down the track if you withdraw it.

    Is the annual interest more than the fees ?

    I worked ABN for a while here before less thsn 4 months and because no contribution was madw in those 4 montbs i was down $300-$400 in that ti.e alone

    Better living everyone



  • #6
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,688 ✭✭✭✭Peregrinus


    carrollsno1 wrote: »
    I worked ABN for a while here before less thsn 4 months and because no contribution was madw in those 4 montbs i was down $300-$400 in that ti.e alone
    If that's all due to charges, you're in a very expensive super fund, so. Other supr funds are available. Leaving your money in super but moving it to a low-expense fund is an option you should investigate.


  • Advertisement
Advertisement