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Australia: Millions of `Super` Dollars Left Unclaimed
26 February 2013
Every year in Australia, temporary workers leave behind millions of dollars worth of superannuation without even knowing it! Superannuation, more commonly known as ‘Super’, is a compulsory pension scheme which employers are obliged to pay on behalf of their employees who earn over a certain amount per week. The contribution is in addition to wages and is invested in a Superannuation fund.
Travellers whose visas have expired and who are faced with the prospect of returning home will be heartened to know that there is a silver lining behind every cloud. Once your Australian visa has expired and you have left Australia permanently, your Super contributions can be claimed back from the fund.
Taxback.com claims an average superannuation refund of $3380! With a team of superannuation specialists on hand to provide a free estimation and to assist with superannuation forms, a ‘Super’ refund may be on its way to help you plan your next big trip. Check out our super page for more info on how to claim it back.
* The refund amount is an average value and is not guaranteed. Your final refund amount depends on your individual circumstances.