Disadvantages of Applying for PR when looking to leave for a while.

[Progressive]

I have been on a 457 visa for two years. I have worked for the same Employer, in the same occupation for the duration. My Employer has suggested that I apply for PR through the 186 pathway (transition from 457 visa). They will cover all costs, and I will be tied in to them for a further two years. This I am comfortable with, and as far as I am aware, on a 186 visa the obligation to remain with the Employer is moral, not legal ie. if I was to leave, my 186 visa wouldn’t be cancelled.

 

My personal situation is that I wish to leave Australia sometime in the next couple of years to spend time elsewhere in the world (for a year or two), prior to settling in Australia at a later date. For this, PR (or citizenship if I see out the full four years is optimum).

 

Are there any disadvantages associated with Permanent Residence (in consideration of my plans) which I should consider before going down this route? I am aware that I should spend two of the five years after PR grant in Australia.

 

Thanks,

 

P.

[blossom]

Only one I can think of is that you can't take your super out once you have pr.

[canadianaussie]

The only real disadvantage will be lack of access to your super - if you leave and cancel your 457 you can draw it out while out of the country. If you have a PR application approved, then it is locked in until retirement age.

[Progressive]

It was actually my intention to leave my super alone until retirement, even if I left after my 457 ran out. My logic being that it would be a good reserve for a later date, on top of my savings. If that is the main disadvantage, perhaps PR is the optimum way to proceed.

 

Can anyone confirm if you pay Australian tax on assets in UK (or elsewhere), renting a house of for example, once you have PR, even if you are living outside of Australia?

 

Am I right in thinking that if one was to cancel their 457 and never return to Australia, they could still draw their super upon retirement?

[VERYSTORMY]

If you were to leave super in for a long time - decades and assuming you have been paying in an average amount, then it would be almost worthless by retirement due to the combination of inflation and fees.

 

If you think you are likelynto want to come back to Oz then I would recommend gaining PR now as nobody knows if your occupation will still be on the list later.