Superannuation Question
Jul 13th 2008, 11:48 pm
#1
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Joined: Oct 2004
Location: Berkshire
Posts: 360
Superannuation Question
I know a few posters here are clued up about superannuation etc. My wife and I were in Oz from 1991-5. We became citizens while there. We returned to the UK and can't forsee ourselves returning.
We have super and rollover funds with Clearview.com.au (formerly NRMA).
My wife has c$8k in a super fund that's "Preserved", ie, if we were in Oz then she wouldn't be able to access it until retirement.
I have c$31k of which $7k is "Unrestricted non-preserved" and the rest "Preserved".
I imagine I could withdraw the $7k whenever I wished.
However, is it possible to withdraw the Preserved funds or transfer them to a pension fund here?
The AUD is stronger than it has been for at least 5 years so I was thinking now could be the time, if it is possible.
Assuming we could withdraw the Preserved amounts, what if we returned to reside in Oz in the future? Would we have a tax liability?
Finally, if we can't touch the Preserved amounts, what happens on retirement in terms of taxation?
We have super and rollover funds with Clearview.com.au (formerly NRMA).
My wife has c$8k in a super fund that's "Preserved", ie, if we were in Oz then she wouldn't be able to access it until retirement.
I have c$31k of which $7k is "Unrestricted non-preserved" and the rest "Preserved".
I imagine I could withdraw the $7k whenever I wished.
However, is it possible to withdraw the Preserved funds or transfer them to a pension fund here?
The AUD is stronger than it has been for at least 5 years so I was thinking now could be the time, if it is possible.
Assuming we could withdraw the Preserved amounts, what if we returned to reside in Oz in the future? Would we have a tax liability?
Finally, if we can't touch the Preserved amounts, what happens on retirement in terms of taxation?
