Temporary Residents
From 1 July 2002 Cbus members who have entered Australia on an eligible temporary residents visa and who subsequently depart Australia will be able to access their superannuation.
- Benefit of less than $5,000
Eligible members with a benefit of less than $5,000 need to provide Cbus with a copy or other evidence of an eligible visa, showing that they were the holder and that the visa is now expired/cancelled, and a copy of their passport showing they have departed Australia. - Benefit of more than $5,000
Eligible members with a benefit of over $5,000 will need to complete a "Confirmation of Immigration Status" form available from the Department of Immigration and Citizenship (DIAC) or the Australian Taxation Office. This form must be subsequently lodged with the DIAC once the temporary resident has left Australia. - Tax
In most cases the benefit will be taxed at 30%, which the Fund will withhold at the time of making the payment. - Not eligible
Australian Citizens who permanently depart Australia to live overseas do not meet the eligibility requirements and their superannuation cannot be released until they reach their preservation age. New Zealand citizens who permanently depart Australia also will not meet the eligibility requirements.
