dunesurfer Posted July 3, 2015 Share Posted July 3, 2015 Hi, Any Accountants or tax experts that would be so kind as to let me know roughly what I will get out on the following amount? $31 000 (I left Australia. 457. I qualify so skip discussing this part. Thanks) Just interested to know, what I will get out on the following rule. Legislation requires AustralianSuper to tax your benefit at the rate of 47% of the untaxed element and 38% of the remainder of your benefit (excluding any tax-free components of your benefit). Thank you Quote Link to comment Share on other sites More sharing options...
AJ235 Posted July 3, 2015 Share Posted July 3, 2015 Hi dunesurfer, i'm not an accountant or tax expert so hopefully someone can come along to who is, however, my brother left Australia last year and he came away with about 70% of the amount he had in super. Quote Link to comment Share on other sites More sharing options...
Progressive Posted July 10, 2015 Share Posted July 10, 2015 Departing Australia superannuation payment (DASP) [TABLE=width: 100%] [TR] [TH=bgcolor: #F5F5F5]DASP[/TH] [TH=bgcolor: #F5F5F5]Component of DASP[/TH] [TH=bgcolor: #F5F5F5]Element of DASP[/TH] [TH=bgcolor: #F5F5F5]DASP tax rate[/TH] [TH=bgcolor: #F5F5F5]Can DASP be included in tax return?[/TH] [/TR] [TR] [TD]Note: Roll-over of DASP is only an option where the ATO are holding the money as temporary resident unclaimed super money and the person has subsequently returned to Australia as a permanent resident.[/TD] [TD]Tax free[/TD] [TD]N/A[/TD] [TD]Nil[/TD] [TD]No[/TD] [/TR] [TR] [TD][/TD] [TD]Taxable[/TD] [TD]Taxed element[/TD] [TD]38% DASP tax Note: this includes the Temporary Budget Repair Levy of 2%. Applies to taxed elements whether taken as DASP lump sum or roll-over.[/TD] [TD]No[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [TD]Untaxed element[/TD] [TD]47% DASP tax Note: this includes the Temporary Budget Repair Levy of 2%. Applies to untaxed elements taken as DASP lump sums. Also to roll-over amounts up to the untaxed roll-over plan cap amount. Any part of a roll-over that exceeds the untaxed roll-over plan cap amount is subject to tax under theSuperannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007(currently 49%) rather than at DASP tax rates.[/TD] [TD]No[/TD] [/TR] [/TABLE] Source: https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=12#Departing_Australia_superannuation_payment__DASP_ Quote Link to comment Share on other sites More sharing options...
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