Departing Australia superannuation payment (DASP) summary—payer instructions
From 1 July 2002 certain persons who entered Australia on an eligible temporary resident visa and who permanently depart Australia will be able to receive payment of any superannuation they have accumulated. These payments are known as Departing Australia Superannuation Payments (DASP).
Superannuation payers must provide a payment summary to recipients of a DASP within 14 days of issuing the payment. This document outlines the information that a DASP payment summary must contain.
As there will be no ATO form produced for these DASP payments superannuation payers will be required to create their own version of this payment summary using a word template, for example, or software designed to produce a DASP payment summary. The payment summary must be based on the requirements detailed in this document.
Software or templates designed to produce this payment summary will not require written approval from the ATO.
A sample only document of possible layout has been attached called Departing Australia Superannuation payment: payment summary-certificate of payment.
Legislative and administrative requirements of the DASP
- Superannuation payers must provide a payment summary to recipients of a DASP within 14 days of issuing the payment.
- There can be no references to ETPs or anything to suggest that the payment is an ETP on the payment summary.
- There is no requirement to provide a copy of this summary to the Australian Taxation Office (ATO) within 14 days of the payment. The annual report, which details all DASPs made within the financial year, will be required and will satisfy the requirement to provide a copy to the ATO.
- It is unlikely that small superannuation funds will provide any DASPs. In the unlikely event that a small fund does issue a DASP, the Payer will be a required to provide a paper DASP Annual Summary, or a copy of all Payment Summaries issued.
- The payment summary provided with the payment must clearly specify that the payment is a DASP.
- Official ATO stationery may not be used for a DASP payment summary. Superannuation payers must not modify or use official ATO stationery when issuing a DASP payment summary. Superannuation payers are required to create their own version (as it is not an official ATO document).
Content
The items listed in the table below describe the content of a DASP payment summary. A sample of a possible DASP Payment Summary layout is shown here.
Items in the 'Name' column show the actual label required, except where the item is in brackets, (eg. [Heading]). Where the field status is `Mandatory', the label or sub-heading must appear in the Payment Summary, even if there are no values for the field.
Name |
Field Status |
Description/Business Rules |
[Letterhead] |
Optional |
Company letterhead can appear at or near the top of the first page. |
[Heading] |
Mandatory |
The heading "Departing Australia Superannuation Payment - Payment Summary" must be prominently displayed at or near the top of the first page. |
[Sub-Heading] |
Mandatory |
The sub heading "Certificate of Payment" must appear on the same line or after the heading. |
Payer Details |
Optional |
Section heading. |
Australian Business Number (ABN) or Withholding Payer Number |
Mandatory |
The payer's ABN or Withholding Payer Number. |
Branch Number |
Mandatory |
The Branch Number of the payer If not available, leave blank or enter `001'. |
Payer's name |
Mandatory |
The name of the payer under which the ABN or withholding payer number is registered. May appear as a letterhead. |
Business Address |
Mandatory |
The business address of the payer. May appear as a letterhead. |
Payee Details |
Optional |
Section heading. |
Tax File Number (TFN) |
Mandatory |
The payee's Australian TFN. If no number was provided, write either all zeroes ("000 000 000") or "Not provided". |
Payee's full name |
Mandatory |
The full name of the payee. Includes first, other and family name where space allows. May also include title. If space prevents inclusion of all names, the middle name and first name may be abbreviated to show only the initial. |
Payee's address |
Mandatory |
The payee's full postal address. The same address that this notice is mailed to. Must include `Country'. |
Payment details |
Optional |
Section heading. |
Date of payment |
Mandatory |
Date the payment was made. |
Payment components (amounts): |
Optional |
Sub-section heading. |
Capital Gains Tax (CGT) exempt component |
Mandatory |
The gross amount, in Australian dollars, of the CGT exempt component of the DASP. This component may be amalgamated under a single heading - `Other components' along with:
|
Non-qualifying component |
Mandatory |
The gross amount, in Australian dollars, of the non-qualifying component of the DASP. This component may be amalgamated under a single heading - `Other components' along with
|
Undeducted contributions |
Mandatory |
The gross amount, in Australian dollars, of the undeducted contributions component of the DASP. |
Concessional component |
Mandatory |
The gross amount, in Australian dollars, of the concessional component of the DASP. This component may be amalgamated under a single heading - `Other components' along with
|
Pre July 1983 component |
Mandatory |
The gross amount, in Australian dollars, of the pre-July 1983 component of the DASP. This component may be amalgamated under a single heading - `Other components' along with
|
Post June 1983 Untaxed element |
Mandatory |
The gross amount, in Australian dollars, of the post June 1983 untaxed component of the DASP. |
Post June 1983 Taxed element |
Mandatory |
The gross amount, in Australian dollars, of the post June 1983 taxed component of the DASP. This component may be amalgamated under a single heading - `Other components' along with
|
Post June 1994 invalidity component |
Mandatory |
The gross amount, in Australian dollars, of the post June 1994 invalidity component of the DASP. |
Gross payment amount |
Mandatory |
The gross amount, in Australian dollars, of the DASP. Equal to the sum of the payment components. |
Total tax withheld |
Mandatory |
The amount of tax withheld, in Australian dollars, from the gross payment. The rates of tax imposed on a departing Australia superannuation payment are as follows: a. for undeducted contributions - nil b. for the post-June 1994 invalidity component - nil c. for the post June 1983 untaxed element component - 40% d. for the remainder (in most cases post June 1983 taxed element) - 30% |
Net payment amount |
Optional |
The amount paid to the payee. Equal to the gross payment minus total tax withheld. |
Contact Details |
Optional |
Section heading. |
Name of contact person |
Optional |
The name of a person from the paying entity who can respond to queries from the payee regarding this payment. |
Telephone Number |
Mandatory |
The STD and telephone number, or mobile number of the paying entity. Since the payments will be to persons outside Australia, the number must be one that can be accessed from outside Australia. |
Signature of authorised officer |
Mandatory |
The signature of the authorised officer from the paying entity. Where the payment summary is produced electronically, the name of the authorised officer will satisfy this requirement. |
Date of issue |
Mandatory |
The date the payment summary is signed or issued. |
For other important information, go to:
