Superannuation contributions non-resident
I have just started a new job in Australia, although I am only a temporary resident. My employer has asked for my Superannuation Details to make the compulsory super payments too but I do not have a Super fund. Do I need to have one even though I am a non-resident? Who should I set one up with?
As a temporary resident your employer is still required to pay the compulsory Superannuation Guarantee, so you will need to set one up. When you leave Australia you may be able to claim the payments made through a made through a ‘departing Australia superannuation payment’
There is no blanket rule on which super fund is the best, different ones suit different individual needs. Your employer or industry may have a fund they recommend otherwise a qualified financial planner may be able to assist you weighing up the different options. If you would like some specific advice contact Affinitas Financial Planning on (07) 3359 5244 or email@example.com.