QHA_August-2021-Digital

SUPERANNUATION
With Brendan O’Farrell
INCREASING YOUR POOL OF
INTERNATIONAL WORKERS
The tourism industry is experiencing an incredible
recovery across Australia, despite the continued
closure of the international border.
Queensland’s hotel occupancy rates increased from
23% in April 2020 to 74% in April 2021¹. Tourism
venues are in high demand, and staff are needed
to fill the vacancies. But without the usual pool of
international workers, many establishments have been
struggling to fill rosters.
The Government recently announced some visa
changes that have hopefully helped to ease these
staffing issues. Those holding student visas and
working in hospitality and tourism can now work more
than 40 hours per fortnight. Additionally, a new ‘408
COVID-19 Pandemic Event Visa’ has also been made
available to those in the sector. This new visa will
allow international workers to stay in Australia for an
additional 12 months after their existing visa expires.
When it comes to superannuation for visa-holders,
there can be a few extra complications. Many are
completely new to superannuation, and won’t be
aware of the benefits, fees and insurance cover that
can be attached to their account. Most (except those
from New Zealand) will also be eligible to claim their
super once they return home through a Departing
Australia Super Payment (DASP). DASP claims are
taxed considerably (at up to 45%) and it’s important
that international workers are aware of this. They will
also need to keep their super details up to date and
keep an Australian bank account open after they
leave the country. This will ensure their claim can be
processed smoothly once they return home.
QUEENSLAND’S HOTEL OCCUPANCY RATES
INCREASED FROM 23% IN APRIL 2020 TO
74% IN APRIL 2021¹. TOURISM VENUES ARE
IN HIGH DEMAND, AND STAFF ARE NEEDED TO
FILL THE VACANCIES.
If your business has recently employed new visaholders
under the Government’s new visa rules,
Intrust Super would be happy to assist in providing
information about their superannuation account, DASP
claims and the importance of keeping their account
and details up to date.
Don’t forget about our free Business Super Health
Checks! If you’ve been onboarding new staff recently,
this 15-minute chat could help you save hours in
administration and payroll work.
To book a Business Super Health check or a DASP
information session for your staff, please get in touch
at service@intrust.com.au or contact your local Intrust
Super Relationship Manager.
QHA REVIEW | 32
1Source: AccorGroup, 2021, Queensland number one for tourism recovery
The opinions expressed in this column are my own and do not necessarily represent the view of Intrust Super.
The information contained in this document and the services referred to are of a general nature only, and does not take into account your
individual financial situation, objectives and needs. You should consider the appropriateness of the general information having regard to your
own situation before making any investment decision. For personal advice, please contact the Intrust360° financial advice team on 1300 001
360. A Product Disclosure Statement is available at www.intrust.com.au or call us on 132 467 for a copy.
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