Australia keen to ensure visitors get their Super Money
The Australian Government is concerned that thousands of international
visitors who worked in Australia are unwittingly leaving millions of
dollars behind when they permanently depart.
The
Minister for Revenue and Assistant Treasurer, Senator Helen Coonan,
said that most of this money is held in superannuation accounts
established by the employers for whom the visitors worked.
"Under
Australian law employers are required to contribute to an employee's
retirement by paying money into a superannuation account when that
employee is paid more than $A450 a calendar month," Senator Coonan said.
She said most Australians must wait until they retire before they are allowed access to this money plus the interest it earns.
"Recognising
that temporary residents won't be retiring in Australia, the Government
has changed the law to allow them access to the money once they depart
permanently," Senator Coonan said.
"The change is retrospective and applies to anyone who has ever visited on an eligible temporary resident visa."
Senator Coonan said some 275,000 foreign nationals apply to visit and work temporarily in Australia each year.
They
include working holiday makers, international students and people
working in a range of professions such as medicine, nursing, teaching
and information technology.
Regional industry
A
significant number of these people have worked as pickers in orchards
and vineyards and other primary industry enterprises in country areas,
playing a major role in ensuring the efficient and timely harvest of
fresh produce for local and export markets.
The Australian Tax
Office (ATO) will undertake an information campaign to ensure working
visitors are made aware of their right to access this superannuation
money.
Senator Coonan said the Australian Government is urging
anyone who believes they may qualify to recover their superannuation to
fill in an on-line application form available on the ATO web-site at
www.ato.gov.au/super.
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