Can we give up our PR in Australia

[Lee Blowers]

Hi 

Can anyone help please  ??? Me & my Wife are permanent residents but we are heading home for good in March as we have family commitments and decided to move home.Can we give up our PR before we leave in March & go on a temporary visa like a bridging visa ??? Is it best to contact a immigration lawyer  ??

And can i claim my super also i cancel my PR also ??

Any help much appreciated 

Lee

 

[Marisawright]

1 hour ago, Lee Blowers said:

Me & my Wife are permanent residents but we are heading home for good in March as we have family commitments and decided to move home.Can we give up our PR before we leave in March & go on a temporary visa like a bridging visa ???

No.   It's possible to request cancellation of your PR but it won't be approved, because just going home is not a good enough reason. 

Even if you could cancel your PR, you wouldn't be able to get your superannuation, because you were a permanent resident when you paid the money in.  So it would be pointless to try to cancel it anyway. 

There's no other disadvantage to holding a PR visa now. Just let it lapse.  

As I said on another thread, make sure you're in a good super fund, e.g. Hostplus or Australian Super (move it if necessary, it's easy enough to do).  When you get to the UK, write to them with your new address and tell them to cancel all insurances, as that will save you a heap on fees.   The balance will keep on growing and you'll have a good pot of money there for your retirement.

 

Edited November 1, 2021 by Marisawright

[Lee Blowers]

Ok that has helped and made it clearer for us !! And thank you for the super information also !!

[Amber Snowball]

I’m with aware super and my super has grown quite nicely in the 3 years since I left the UK. I’m hoping to get my sweaty mitts on it when I’m 60 as my nhs pension won’t be big enough to retire early and my retirement age here is 67 currently but I get caught in the change to 68 so being able to retire at 60 will be fab.

Good luck on your move.

[Marisawright]

5 hours ago, Amber Snowball said:

I’m with aware super and my super has grown quite nicely in the 3 years since I left the UK. I’m hoping to get my sweaty mitts on it when I’m 60 as my nhs pension won’t be big enough to retire early and my retirement age here is 67 currently but I get caught in the change to 68 so being able to retire at 60 will be fab.

Good luck on your move.

Do bear in mind that you can’t take a lump sum from your super at 60. If you do, the British taxman will take a third of it in tax. 

You’ll need to convert it to a pension (“income stream”) or make small withdrawals each year to keep the tax down

[Amber Snowball]

10 hours ago, Marisawright said:

Do bear in mind that you can’t take a lump sum from your super at 60. If you do, the British taxman will take a third of it in tax. 

You’ll need to convert it to a pension (“income stream”) or make small withdrawals each year to keep the tax down

Yes that’s my plan. 
It’s a way off yet but I’m assuming I do a tax return each year and I would pay NI as well? Because the UK sees it as income not a pension?

I’ve sort of got a plan but so much can change in 10+ years I’ve not done nitty gritty details! 

[wrussell]

Take some considered professional advice, perhaps consult Alan Collet, who posts on this forum and is expert in the area.