Released on: September 6, 2007, 1:09 am

Press Release Author: The Australian

Industry: Internet & Online

Press Release Summary: \"Under Australian law employers are required to contribute to
an employee\'s retirement by paying money into a superannuation account when that
employee is paid more than $A450 a calendar month\"

Press Release Body: The Australian Government is concerned that thousands of
international visitors who worked in Australia are unwittingly leaving millions of
dollars behind when they permanently depart.

The Minister for Revenue and Assistant Treasurer, Senator Helen Coonan, said that
most of this money is held in superannuation accounts established by the employers
for whom the visitors worked.

\"Under Australian law employers are required to contribute to an employee\'s
retirement by paying money into a superannuation account when that employee is paid
more than $A450 a calendar month,\" Senator Coonan said.

She said most Australians must wait until they retire before they are allowed access
to this money plus the interest it earns.

\"Recognising that temporary residents won\'t be retiring in Australia, the Government
has changed the law to allow them access to the money once they depart permanently,\"
Senator Coonan said.

\"The change is retrospective and applies to anyone who has ever visited on an
eligible temporary resident visa.\"

Senator Coonan said some 275,000 foreign nationals apply to visit and work
temporarily in Australia each year.

They include working holiday makers, international students and people working in a
range of professions such as medicine, nursing, teaching and information technology.

Regional industry

A significant number of these people have worked as pickers in orchards and
vineyards and other primary industry enterprises in country areas, playing a major
role in ensuring the efficient and timely harvest of fresh produce for local and
export markets.

The Australian Tax Office (ATO) will undertake an information campaign to ensure
working visitors are made aware of their right to access this superannuation money.

Senator Coonan said the Australian Government is urging anyone who believes they may
qualify to recover their superannuation to fill in an on-line application form
available on the ATO web-site at www.ato.gov.au/super.

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