We offer advice on the Australian superannuation and tax rules where clients are seeking to:
- obtain a payment of their overseas superannuation and pension benefits in Australia;
- transfer their overseas superannuation and pension moneys to an Australia superannuation fund including an SMSF;
- use an SMSF to invest in overseas property/assets; or
- relocate overseas and maintain their SMSF as a (resident) Australian superannuation fund.
Please contact one of our lawyers for assistance.
Australian tax and superannuation advice
The Australian tax and superannuation rules are among the most complex rules in the world and they undergo constant changes. We are regularly engaged to prepare advice, documents and in certain assignments prepare and lodge a private binding ruling request with the ATO. For more information, please click here.
Where one or more SMSF members relocate overseas there may be significant tax consequences for the fund. In particular, if a fund has overseas members and careful consideration has not been given to the structure of the fund, it may automatically lose its complying status. If an SMSF becomes a non-resident fund almost half of the value of the SMSF can be lost in tax. This is because a 45% tax can be imposed on an SMSF’s assets apart from a certain tax free amount when they cease to be an Australian superannuation fund.
To ensure this does not happen, it is critical that the SMSF meets all of the criteria to satisfy the definition of an ‘Australian superannuation fund’.
For more information and related articles
- Transferring overseas super/pension savings to Australia
- Latest on UK pension transfers to SMSFs
- QROPS UK changes impact SMSFs deeds
- SMSFs, super & international issues
- Ensure an SMSF meets the residency tests
- International issues facing SMSFs today
- Transferring foreign superannuation fund amounts to an Australian resident