Making a DASP
When making a departing Australian superannuation payment (DASP) to an eligible temporary resident, funds and Retirement Savings Account (RSA) providers must use the visa information provided on the DASP application to determine the appropriate DASP tax rates to apply.
A former temporary resident may have held more than one type of visa and different tax rates could apply to those components. Funds and RSA providers must:
- send the withheld amount to us
- issue a DASP payment summary to the temporary resident within 14 days of making the payment.
- The payment summary must state the payment is a DASP and is non-assessable non-exempt income to which a final DASP tax has been applied – therefore neither the payment nor the tax withheld is included in the payee's tax return.
- report DASP payments made during the financial year – you need to lodge a PAYG payment summary annual report with us by either
- 14 August of the financial year following the date the payment was made, if you choose to report DASP with other payment summaries due that day, or
- 31 October of the financial year following the date the payment was made, if you choose to report DASP separately.
For more information see the PAYG withholding payment summary annual report.
If the incorrect tax rate is applied by the fund
If a fund has identified an error in the application of tax rates they should report it in Online services for business.
Actioning member requests about tax
If a fund has made an error with the withholding amount, the recipient may request a refund of the amount withheld in error.
If the fund becomes aware of the error or the recipient of the DASP applies to the fund for a refund before the end of the financial year in which the amount of tax is withheld, the request must be actioned by the fund. After this time, the recipient can apply to the ATO for a refund.
For more information see DASP and working holiday makers changes