What superannuation is
Australia has a compulsory retirement savings scheme called superannuation, or "super". If you earn over a certain amount, your employer must pay a percentage of your wage into a super fund on your behalf, on top of your regular pay, not deducted from it. This applies to working holiday makers exactly as it applies to any other worker in Australia.
You can claim it back. Unlike a citizen or permanent resident, a working holiday maker can claim their superannuation back once they leave Australia for good, through a Departing Australia Superannuation Payment (DASP), minus a withholding tax.
How it works day to day
- Your employer nominates or you choose a super fund when you start
- A percentage of your wage is paid into that fund each pay cycle, separate from your take-home pay
- You can check your balance online through your fund's app or website
- If you work for more than one employer, you may end up with more than one fund, worth consolidating before you leave
Super accrues quietly in the background of every eligible pay cycle.
Claiming your DASP
- Leave Australia. Your visa must have expired or ceased, and you must have actually departed.
- Apply through the ATO's DASP system online. You'll need your super fund details and departure information.
- Receive the payment, minus withholding tax. The tax rate on a DASP payment is higher than standard income tax, factor this into what you'll actually receive.
Things worth knowing
- Keep your super fund details and login somewhere safe, easy to lose track of after you've left the country
- Update your address with your fund if it changes before you claim
- There's no strict deadline to claim, but funds can be transferred to the ATO as unclaimed money after a period of inactivity, adding an extra step to retrieve it