Leaving Australia Permanently — A Financial Checklist

Why "permanently" changes the checklist

A temporary visa holder leaving Australia has a comparatively simple superannuation position — the Departing Australia Superannuation Payment scheme exists specifically for them, and Migratio's guide on 482/485 visas ending or on a student finishing their course covers that checklist in full. A citizen or permanent resident emigrating for good is explicitly excluded from DASP, which changes several of the questions below — not just superannuation, but potentially your Age Pension entitlement and how your tax residency is treated from your departure date onward.

Superannuation

Because DASP doesn't apply to citizens and permanent residents, what actually happens to your super balance when you emigrate permanently is a distinct question with its own considerations around preservation and conditions of release. See Migratio's dedicated guide on superannuation when you leave Australia permanently for the detail, rather than this page attempting to summarise it.

Age Pension and retiring overseas

If you're at or approaching pension age, whether an Australian Age Pension (or other Centrelink payment) continues, and at what rate, once you're living overseas depends on the specific payment and any bilateral social security agreement between Australia and your destination country. This doesn't apply to everyone leaving Australia, but where it does it's a significant piece of financial planning — see Migratio's guide on retiring overseas on an Australian Age Pension for how portability works rather than assuming a single rule applies across every payment type and country.

Tax residency doesn't end the day you board a flight

Your Australian tax residency status is assessed against your actual circumstances — how long you've been away, whether you've set up a permanent home elsewhere, and other factors — rather than switching off automatically on your departure date. Migratio's guide on the tax implications of moving money to and from Australia covers how the ATO treats pre-residency versus post-residency funds, which is the same underlying framework in reverse when your residency status changes on the way out. A registered tax agent is the right source for exactly when your specific circumstances mean your residency status changes, and for your final part-year tax return.

HELP debt follows you overseas

If you have an outstanding HELP (HECS-HELP) debt, leaving Australia permanently does not clear it. Since 2017, Australian residents overseas with a HELP debt have had a compulsory repayment obligation once their worldwide income crosses the applicable threshold, along with a requirement to keep the ATO informed of your overseas address — see Migratio's guide on HELP debt when leaving Australia for the reporting obligation in full.

Moving your savings out of Australia

Once superannuation, any pension question, and your tax position are settled, the remaining task is moving whatever savings you're taking with you. For a substantial accumulated sum — years of Australian income and any asset sales combined — this sits in the same category as any other large one-off international transfer: providers will generally ask about the source of the funds for an amount that's large relative to your usual transaction history, and a specialist currency provider is one option some people use instead of a standard bank transfer, particularly if you can plan the transfer date in advance and want to fix a rate ahead of time rather than accept whatever the market offers on the day. This is a description of what's available, not a recommendation — the right approach depends on the amount, the timing, and your own view of currency risk.

If you might come back

Migratio's guide for people moving back to Australia after years overseas covers the reverse situation — permanent residents needing a Resident Return Visa before travelling back on their PR status, tax residency restarting, and Medicare re-establishing. If there's a real chance you'll return, it's worth reading before you leave, since some of what you close out now (particularly PR travel facility validity) affects how straightforward coming back later will be.

Can I claim DASP if I'm a permanent resident or citizen leaving Australia for good?

No. DASP is specifically for temporary visa holders. See Migratio's guide on superannuation when you leave Australia permanently for what applies to citizens and permanent residents instead.

Does my Australian tax residency end the moment I leave?

Not automatically — it's assessed against your actual circumstances rather than your departure date alone. A registered tax agent can confirm when your specific situation means your residency status changes.

Will I still get my HELP debt notices if I leave the country?

The obligation to repay and to keep the ATO updated with your overseas address continues regardless of whether you receive notices reliably — see Migratio's guide on HELP debt when leaving Australia for the current reporting requirement.

Can I keep receiving an Australian pension if I move overseas permanently?

It depends on the specific payment and whether a social security agreement exists between Australia and your destination country. See Migratio's dedicated guide on retiring overseas on the Age Pension rather than assuming a single rule covers every payment.

What's the best way to move a large amount of accumulated savings out of Australia when I leave?

That depends on the amount and your own view of timing and currency risk — a standard bank transfer works for most amounts, and a specialist currency provider is an option some people use for a larger sum, particularly with a planned transfer date. This page describes the options rather than recommending one.