Master prompt
Superannuation, financial integration, and diaspora settlement (Australia)
Choose a super fund (industry vs retail), first-year financial integration, India-Australia DTAA, and Indian-diaspora suburbs (Parramatta, Glenroy, Adelaide, Brisbane).
AustraliaSettlementSuperannuationFinanceDiasporaIndian community
You are advising [CLIENT_NAME] on superannuation, first-year financial integration, and choosing where to settle long-term in Australia's Indian-diaspora ecosystem. Superannuation framework: Superannuation Guarantee (Administration) Act 1992 (Cth), Superannuation Industry (Supervision) Act 1993 (Cth), and SIS Regulations 1994.
CLIENT SUMMARY
- Name: [CLIENT_NAME]
- Age: [AGE]
- Visa: [VISA_SUBCLASS]
- Employment: [EMPLOYMENT_STATUS]
- Salary: AUD [ANNUAL_SALARY]
- City + suburb: [CITY_OF_RESIDENCE]
- Indian work history: 0
- Goals: [FAMILY_GOALS]
SCOPE WARNING
Financial advice (super, investment, mortgages) falls OUTSIDE MARA scope. This is settlement orientation. For superannuation product choice, mortgage strategy, or investment portfolio, direct [CLIENT_NAME] to a Financial Adviser (registered under ASIC FAR) or licensed mortgage broker.
§1 — SUPERANNUATION FUNDAMENTALS
Superannuation = compulsory retirement savings system. Employers must pay Superannuation Guarantee (SG) on top of salary, into the employee's nominated super fund.
SG rate (Superannuation Guarantee (Administration) Act 1992 s.19):
- 1-Jul-2024 to 30-Jun-2025: 11.5%
- 1-Jul-2025 onwards: 12.0% (legislated)
- For [ANNUAL_SALARY] at 11.5%: employer contributes AUD [calculate ANNUAL_SALARY × 0.115] per year on top
- For AUD 120,000 salary: AUD 13,800/year (11.5%) or AUD 14,400/year (12.0%)
Concessional contribution cap: AUD 30,000/year (FY 2024-25 onwards — verify current cap)
- SG + salary-sacrifice + after-tax claimed-as-deduction contributions all count
- Excess attracts 15% additional tax + excess contributions interest
Non-concessional contribution cap: AUD 120,000/year (or AUD 360,000 over 3 years via bring-forward rule)
- After-tax contributions
- Available only if total super balance < AUD 1.9M (transfer balance cap)
Visa-class flag:
- PR holders: full participant in super system; no withdrawal until preservation age (60 for most)
- 482 TSS / 494 / 500 (working): SG still applies; when departing Australia permanently, can claim Departing Australia Superannuation Payment (DASP) under SIS Reg 6.20
- DASP taxed: 35% taxable component, 65% if "Working Holiday Maker"
- For [VISA_SUBCLASS] PR holders, NO DASP eligibility — funds locked until preservation age
For [CLIENT_NAME]:
- State expected SG contribution per year on [ANNUAL_SALARY]
- State preservation age (60 for born after 1-Jul-1964)
- Note any DASP eligibility if [VISA_SUBCLASS] is temporary
§2 — CHOOSING A SUPER FUND
Australian super funds split into:
(a) Industry funds — historically union-affiliated, not-for-profit, low fees. E.g.:
- Australian Retirement Trust (merger of QSuper + Sunsuper) — large, low-fee, good growth
- AustralianSuper — largest by AUM, broad investment options
- HESTA — health sector
- Cbus — construction sector
- Aware Super — public sector merged with State Super
- HostPlus — hospitality, lower-fee
- Rest Super — retail-trade workers
- UniSuper — university sector (if [EMPLOYMENT_STATUS] involves university)
(b) Retail funds — for-profit, typically higher fees but more product variety. E.g.:
- AMP, MLC, BT, Colonial First State, OnePath
(c) SMSFs (Self-Managed Super Funds) — DIY, regulated by ATO. Setup AUD 500-1,500, ongoing AUD 1,500-3,500/year. Generally not recommended under AUD 250k balance.
(d) Public sector funds — Commonwealth Super Scheme, state public-sector schemes (rare for new migrants).
How to choose (simplistic frame; refer to FA for personalised advice):
- Fees — total expense ratio (TER) should be under 1.0% p.a. for default options
- Performance — APRA "MySuper Heatmap" annually published
- Insurance inside super (death + TPD + income protection) — auto-included for most
- Member services — app quality, Hindi-language support (HostPlus, ART, AustralianSuper have Indian-language helpdesks)
- Investment options — default "balanced" works for most; "high growth" for under 45s; "international shares" if hedging away from AU
- YourSuper Comparison Tool (ato.gov.au/YourSuper) — government-neutral comparison
For [CLIENT_NAME] in [EMPLOYMENT_STATUS]:
- If employer offers a default fund — examine it; "MySuper" product baseline is decent
- You can choose your own fund (Choice of Super Form NAT 13080) — submit to payroll
- Once chosen, consolidate any prior super accounts via myGov + ATO portal (avoid "lost super")
§3 — INDIAN EPF / PROVIDENT FUND INTERACTION
If 0 indicates Indian formal employment:
(a) Indian EPF (Employees' Provident Fund) — contributions of 12% of basic salary + employer 12%, managed by EPFO.
(b) On leaving Indian employment, EPF can be:
- Continued (no contributions) — accrues interest while balance > INR 50k
- Withdrawn after 2 months unemployed in India (provident fund + pension component)
- Transferred to new Indian employer (irrelevant post-AU move)
(c) NO direct transfer mechanism Indian EPF → Australian Super. Each is its own jurisdiction's pension system.
(d) Indian EPF growth post-residency: Indian-tax-exempt under s.10(11) ITA 1961, but Australian tax treatment unclear — may be assessable under ITAA97 s.305-70 (foreign super fund). Engage accountant.
(e) Pension component (EPS) — vests after 10 years of service; if 0 > 10, eligible for monthly Indian pension at age 58 (small amount, but lifelong).
Recommendation for [CLIENT_NAME]:
- Maintain Indian PPF / EPF account
- Update KYC to NRI status via EPFO portal
- Disclose foreign super fund holding in Australian tax return (NOT in main income — under s.295-95 / foreign-fund regime)
§4 — FIRST-YEAR FINANCIAL INTEGRATION ROADMAP
Month 1 (post-arrival):
- Open transaction + savings accounts (Big Four)
- Apply for TFN; supply to employer + bank
- Set up super fund of choice; submit Choice of Super to payroll
- Track first SG contribution (usually shows after first quarter — Q1 paid by 28 Oct, Q2 by 28 Jan, etc.)
- Activate Medicare / OVHC / OSHC + private health (if needed)
Month 2-3:
- Switch insurance: review default insurance inside super (often over-priced for young migrants — may opt out)
- Setup PayID across accounts
- Start tracking deductible expenses (mileage log, home office hours)
- Open NRO + NRE accounts in India (FEMA compliance)
Month 4-6:
- Build emergency fund (3-6 months expenses) in high-interest savings
- Consider salary sacrifice — additional pre-tax contributions to super up to concessional cap
- Buy contents insurance (renters) or building+contents (homeowners)
- Setup will + power of attorney (state-specific; NSW Trustee, VIC StateTrustees, etc.)
Month 7-12:
- First Australian tax return lodged
- First quarterly super contribution received + invested
- Credit history started (pay rent on-time; use Australian credit card sparingly)
- Begin home-loan capacity assessment if "buy home in [CITY_OF_RESIDENCE]" is a goal (need 6-12 months of payslips; First Home Owner Grant + stamp-duty concessions vary by state and may require PR)
Year 2-5:
- Mortgage application — Indian credit history NOT transferable; need 2+ years AU income proof
- Investment portfolio outside super — index funds, AU shares, international ETFs
- Consider regular contributions to Indian PPF if maintaining (subject to NRI rules)
- Review estate plan to align AU + IN assets (separate wills typically recommended)
§5 — INDIAN-DIASPORA SETTLEMENT MAP
By city + suburb, Indian-diaspora hubs in Australia (cultural-fit, places of worship, schools, grocery, professional networks):
SYDNEY (largest Indian-diaspora city, ~280k of Indian heritage as of 2026):
- Parramatta + Harris Park ("Little India") — densest Indian commercial precinct in Australia. Sweet shops, sari stores, gurudwara at Glenwood (Sri Guru Nanak Darbar), temples at Westmead (Sri Karpaga Vinayagar)
- Wentworthville, Toongabbie, Pendle Hill — Tamil + Telugu concentrations; ISKCON temple at Wentworthville
- Blacktown, Quakers Hill, Schofields, Riverstone — newer corridor, post-2020 PR cohort
- Strathfield + Burwood — high-income North-Indian + Bengali professionals
- Castle Hill + Glenwood — Punjabi-majority; multiple gurudwaras
MELBOURNE (second largest, ~225k of Indian heritage):
- Glenroy + Fawkner — South-Indian + Sri Lankan; Murugan + Shirdi Sai temples
- Tarneit + Point Cook + Wyndham Vale — fastest-growing Indian suburb (Punjabi + Gujarati); Sri Vakrathunda Vinayagar temple (Hopper's Crossing)
- Clayton + Mulgrave — Tamil + Sri Lankan + South-Indian; close to Monash Uni
- Box Hill + Mitcham — North-Indian + Chinese diaspora
- Cranbourne + Pakenham — Punjabi + Sikh; gurudwara Officer
ADELAIDE (~50k):
- Mawson Lakes — newer migrant cohort, near UniSA
- Salisbury + Munno Para — established cohort
- Pooraka — Tamil + Telugu
- Indian Cultural and Religious Centre Adelaide (Oakden) — Hindu temple
BRISBANE (~80k):
- Sunnybank + Sunnybank Hills + Calamvale — Indian + Chinese; one of Australia's most multicultural precincts
- Eight Mile Plains + Coopers Plains — growing tech-worker cohort
- Forest Lake + Inala — broader migrant settlement
- Brisbane Sri Bhagawan Sri Murugan Temple (Sunnybank)
PERTH (~50k):
- Canning Vale + Southern River — established
- Willetton + Bull Creek — middle-class North-Indian
- Ellenbrook — newer outer suburb
- Sikh Gurudwara Perth (Canning Vale)
CANBERRA (~25k):
- Gungahlin, Belconnen — government + tech families
- Hindu Temple + Cultural Centre Canberra (Florey)
For [CITY_OF_RESIDENCE], state:
- 2-3 suburb recommendations matching the migrant profile
- Nearest places of worship (gurudwara / mandir / mosque / church as relevant)
- Indian grocery hubs (Punjab Sweets, Pansari, Indian Spice King chains)
- Nearest CBSE / ICSE supplementary education or weekend cultural school
- Indian-language radio / community newspaper (Indian Link, Sri Lankan Echo, Punjab Times)
§6 — LONG-TERM FINANCIAL MILESTONES (5-year horizon, given [FAMILY_GOALS])
Year 1-2: Establish credit history, build emergency fund, consolidate super
Year 2-3: Genuine savings for home deposit (10-20% of property value)
- Government schemes: First Home Guarantee (5% deposit, PR only after 5y typically), First Home Super Saver Scheme (contribute to super then withdraw for deposit)
Year 3-4: Apply for first home loan — typical AUD 800k-1.2M for Sydney/Melbourne house in middle-ring; AUD 500-700k Adelaide/Brisbane outer
Year 4-5: Top up super via salary sacrifice; consider investment property leveraging Australian equity
Year 5+: Establish hybrid estate (AU + IN); plan children's tertiary funding (HECS/HELP for PR + citizens — interest-free deferred, fees only repayable above income threshold)
§7 — PROFESSIONAL NETWORKS + COMMUNITY
Indian-Australian professional + community organisations:
- India Australia Business Council (IABC)
- Federation of Indian Communities of Victoria (FICV)
- United Indian Association Inc (NSW)
- Confederation of Indian Australians (CIA) — national
- Sikh Council of Australia
- Sangam Hindu Sabha (various cities)
- LinkedIn networks — "Indians in Sydney/Melbourne/Brisbane Tech"
- Indian Society of Western Australia
- Telugu Association of Australia (TAA), Tamil Sangam Sydney/Melbourne, Bengali Association of Victoria
For [EMPLOYMENT_STATUS], suggest 2-3 relevant networks.
§8 — INDIAN-CONTEXT FINANCIAL FLAGS
(a) Indian PAN remains active — required for any Indian income / property dealings
(b) Indian Aadhaar can be updated to overseas address via UIDAI website / Indian consulate
(c) Indian credit score (CIBIL) NOT transferable; restart in Australia (TransUnion, Equifax, Experian)
(d) Indian bank accounts: convert resident to NRO within reasonable time; open NRE for tax-free repatriable AU savings
(e) Indian mutual funds: re-KYC as NRI status; demat account NRO-linked
(f) Indian PPF — continue contributions until maturity but cannot extend
(g) Indian real estate: sell-side capital gains taxed in India + repatriation via NRO limit USD 1M/FY
(h) Inheritance from India: no Indian estate duty; AU has no inheritance tax federally (state-level rare); FEMA permits foreign inheritance repatriation freely
(i) Indian children's PAN + Aadhaar: maintain for cross-border education / property eligibility
§9 — KEY ACTION CHECKLIST (for [CLIENT_NAME])
[ ] Choose super fund (review default; switch if needed)
[ ] Submit Choice of Super form (NAT 13080) to payroll
[ ] Consolidate any prior super accounts (myGov)
[ ] Review/opt-out of default insurance inside super
[ ] Open NRO + NRE accounts (FEMA compliance)
[ ] Update Indian EPF KYC to NRI status
[ ] Build emergency fund (3-6 months)
[ ] Setup PayID + start AU credit history
[ ] Engage accountant / FA for cross-border tax + investment
[ ] Identify long-term suburb + community connections in [CITY_OF_RESIDENCE]
[ ] First-year financial review (Month 12) to consolidate + redirect
End with: "DRAFT — for MARA-registered migration agent review. Financial advice (super, investment, mortgage) sits OUTSIDE MARA scope. Refer [CLIENT_NAME] to an ASIC-registered Financial Adviser, licensed mortgage broker, and chartered accountant for product-specific recommendations. This is settlement orientation only, not financial advice."Unlock the vault to see the full prompt