Transferring Australian superannuation & voting
Mar 24th 2001, 4:09 am
#1
Guest
Posts: n/a
Hi all,
If there are any Aussies out there who have immigrated to the States, you may be able
to help me with this. My husband (Australian) has money in a super fund through
Suncorp Metway. It's not a lot, but no point in leaving it here if we can transfer it
to the States. Anyone know the procedure for doing this? Can it be transferred into
another kind of investment other than a retirement plan?
Another question - does he still have an obligation to vote in Australian elections?
If so, I assume it's by postal absentee ballot. Does one just ring up the electoral
commission and give an international address?
Thanks for any input!
Squeezle
If there are any Aussies out there who have immigrated to the States, you may be able
to help me with this. My husband (Australian) has money in a super fund through
Suncorp Metway. It's not a lot, but no point in leaving it here if we can transfer it
to the States. Anyone know the procedure for doing this? Can it be transferred into
another kind of investment other than a retirement plan?
Another question - does he still have an obligation to vote in Australian elections?
If so, I assume it's by postal absentee ballot. Does one just ring up the electoral
commission and give an international address?
Thanks for any input!
Squeezle
Mar 24th 2001, 1:28 pm
#2
Guest
Posts: n/a
I have checked on this all the way to the senators office in charge of superannuation
in Australia. I have been told that the laws were changed on the first of July 1998
and that superannuation funds from the employee guarantee legislation, by law here 8%
of our wages must be paid into a fund of our choice governed by Federal Law. We are
told THIS IS NOT A TAX however the law changes make me believe otherwise. The new law
says that these funds must be left in Australia until I reach the age of 65, though
they have just indicated that our retirement age will be raised to 70 so I guess that
is how old I will have to be to get my funds out. (Just another 40 years) I wish with
all my heart that I have been given inaccurate information on this matter as these
funds would come in incredibly handy for my fiancee and
I.As far as voting goes I know that I can but am unsure whether or not the compulsory
part of the law extends to non resident citizens of Australia, I also would like
any further information on this. If you wish to vote you just need to contact your
local Australian consulate or consular office, there are a number in the US. If
anyone can give any ideas on how to release my super funds it would be greatly
appreciated, I was also told by the senators office that I am unable to transfer
the funds out of Australia into any other country, in fact I was told by the
senators liason "You can'y get your money Bad Luck" apparently they recieve about
20 complaints a day about this. Kelly
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in Australia. I have been told that the laws were changed on the first of July 1998
and that superannuation funds from the employee guarantee legislation, by law here 8%
of our wages must be paid into a fund of our choice governed by Federal Law. We are
told THIS IS NOT A TAX however the law changes make me believe otherwise. The new law
says that these funds must be left in Australia until I reach the age of 65, though
they have just indicated that our retirement age will be raised to 70 so I guess that
is how old I will have to be to get my funds out. (Just another 40 years) I wish with
all my heart that I have been given inaccurate information on this matter as these
funds would come in incredibly handy for my fiancee and
I.As far as voting goes I know that I can but am unsure whether or not the compulsory
part of the law extends to non resident citizens of Australia, I also would like
any further information on this. If you wish to vote you just need to contact your
local Australian consulate or consular office, there are a number in the US. If
anyone can give any ideas on how to release my super funds it would be greatly
appreciated, I was also told by the senators office that I am unable to transfer
the funds out of Australia into any other country, in fact I was told by the
senators liason "You can'y get your money Bad Luck" apparently they recieve about
20 complaints a day about this. Kelly
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Mar 24th 2001, 3:07 pm
#3
Guest
Posts: n/a
Thanks for this Kelly -- looks like it can't be done eh? Glad my hubby doesn't have
much in it then. Sounds like yet another rort to me....... As for the voting, I will
ring the electoral commission and ask. Seems unreasonable to require non-residents to
vote when the result doesn't really affect them. Thanks for the reply!
Squeezle
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much in it then. Sounds like yet another rort to me....... As for the voting, I will
ring the electoral commission and ask. Seems unreasonable to require non-residents to
vote when the result doesn't really affect them. Thanks for the reply!
Squeezle
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Mar 24th 2001, 3:26 pm
#4
Guest
Posts: n/a
Just checked the Australian Electoral Commission website. No you do not need to
vote if overseas. The website is at www.aec.gov.au also superannuation law is
available at http://scaletext.law.gov.au/html/pastereg/0/484/top.htm Good Luck with
Everything Kelly
Kelly (Adelaide, Australia) Ginelle (California, USA)
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[usenetquote2]> > I have checked on this all the way to the senators office in charge of[/usenetquote2]
[usenetquote2]> > superannuation in Australia. I have been told that the laws were changed[/usenetquote2]
>
[usenetquote2]> > the first of July 1998 and that superannuation funds from the employee guarantee[/usenetquote2]
[usenetquote2]> > legislation, by law here 8% of our wages must be paid into a[/usenetquote2]
>
[usenetquote2]> > of our choice governed by Federal Law. We are told THIS IS NOT A TAX[/usenetquote2]
>
[usenetquote2]> > the law changes make me believe otherwise. The new law says that these[/usenetquote2]
>
[usenetquote2]> > must be left in Australia until I reach the age of 65, though they have[/usenetquote2]
>
[usenetquote2]> > indicated that our retirement age will be raised to 70 so I guess that[/usenetquote2]
is
[usenetquote2]> > how old I will have to be to get my funds out. (Just another 40 years) I wish[/usenetquote2]
[usenetquote2]> > with all my heart that I have been given inaccurate information[/usenetquote2]
on
[usenetquote2]> > this matter as these funds would come in incredibly handy for my fiancee[/usenetquote2]
>
[usenetquote2]> > I.As far as voting goes I know that I can but am unsure whether or not the[/usenetquote2]
[usenetquote2]> > compulsory part of the law extends to non resident citizens of[/usenetquote2]
Australia,
>
[usenetquote2]> > also would like any further information on this. If you wish to vote you just[/usenetquote2]
[usenetquote2]> > need to contact your local Australian consulate or consular office, there are a[/usenetquote2]
[usenetquote2]> > number in the US. If anyone can give any ideas on how to release my super funds[/usenetquote2]
[usenetquote2]> > it would[/usenetquote2]
be
[usenetquote2]> > greatly appreciated, I was also told by the senators office that I am[/usenetquote2]
>
[usenetquote2]> > to transfer the funds out of Australia into any other country, in fact I[/usenetquote2]
>
[usenetquote2]> > told by the senators liason "You can'y get your money Bad Luck"[/usenetquote2]
apparently
[usenetquote2]> > they recieve about 20 complaints a day about this. Kelly[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
vote if overseas. The website is at www.aec.gov.au also superannuation law is
available at http://scaletext.law.gov.au/html/pastereg/0/484/top.htm Good Luck with
Everything Kelly
Kelly (Adelaide, Australia) Ginelle (California, USA)
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[usenetquote2]> > I have checked on this all the way to the senators office in charge of[/usenetquote2]
[usenetquote2]> > superannuation in Australia. I have been told that the laws were changed[/usenetquote2]
>
[usenetquote2]> > the first of July 1998 and that superannuation funds from the employee guarantee[/usenetquote2]
[usenetquote2]> > legislation, by law here 8% of our wages must be paid into a[/usenetquote2]
>
[usenetquote2]> > of our choice governed by Federal Law. We are told THIS IS NOT A TAX[/usenetquote2]
>
[usenetquote2]> > the law changes make me believe otherwise. The new law says that these[/usenetquote2]
>
[usenetquote2]> > must be left in Australia until I reach the age of 65, though they have[/usenetquote2]
>
[usenetquote2]> > indicated that our retirement age will be raised to 70 so I guess that[/usenetquote2]
is
[usenetquote2]> > how old I will have to be to get my funds out. (Just another 40 years) I wish[/usenetquote2]
[usenetquote2]> > with all my heart that I have been given inaccurate information[/usenetquote2]
on
[usenetquote2]> > this matter as these funds would come in incredibly handy for my fiancee[/usenetquote2]
>
[usenetquote2]> > I.As far as voting goes I know that I can but am unsure whether or not the[/usenetquote2]
[usenetquote2]> > compulsory part of the law extends to non resident citizens of[/usenetquote2]
Australia,
>
[usenetquote2]> > also would like any further information on this. If you wish to vote you just[/usenetquote2]
[usenetquote2]> > need to contact your local Australian consulate or consular office, there are a[/usenetquote2]
[usenetquote2]> > number in the US. If anyone can give any ideas on how to release my super funds[/usenetquote2]
[usenetquote2]> > it would[/usenetquote2]
be
[usenetquote2]> > greatly appreciated, I was also told by the senators office that I am[/usenetquote2]
>
[usenetquote2]> > to transfer the funds out of Australia into any other country, in fact I[/usenetquote2]
>
[usenetquote2]> > told by the senators liason "You can'y get your money Bad Luck"[/usenetquote2]
apparently
[usenetquote2]> > they recieve about 20 complaints a day about this. Kelly[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
Mar 24th 2001, 6:53 pm
#5
Guest
Posts: n/a
G'day
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You are not required to vote - or rather, living outside the country is an acceptable
excuse to them to explain why you didn't vote.
However, if you want to vote, then the various Australian consulates around the
country can send you absentee voting papers. I usually get mine from San Francisco.
DrRuth
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You are not required to vote - or rather, living outside the country is an acceptable
excuse to them to explain why you didn't vote.
However, if you want to vote, then the various Australian consulates around the
country can send you absentee voting papers. I usually get mine from San Francisco.
DrRuth
Mar 24th 2001, 10:55 pm
#6
Guest
Posts: n/a
Hi - if it is any help. I have a super fund with SuperSA which I am in th process of
getting out now. SO long as I can prove evidence of leaving Austrlaia permanantly,
they will allow me access to my funds - (employer contributed) and it will only be
taxed at 15%. So it may be worth while checking with your fund.
Karen
On Sat, 24 Mar 2001 05:09:52 GMT, "Squeezle" <[email protected]> wrote:
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getting out now. SO long as I can prove evidence of leaving Austrlaia permanantly,
they will allow me access to my funds - (employer contributed) and it will only be
taxed at 15%. So it may be worth while checking with your fund.
Karen
On Sat, 24 Mar 2001 05:09:52 GMT, "Squeezle" <[email protected]> wrote:
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Mar 25th 2001, 12:48 am
#7
Guest
Posts: n/a
I have just checked the regulations again. They state that the withdrawl of funds due
to permanant departure from Australia is no longer possible, unless written
application was made before the first of July 1998. There are slightly different laws
if you were born before 1949. And if the total amount is less than $500 can be
withdrwn at termination of employment. However if you manage to get your funds out,
please let me know as I will transfer mine to the same fund as yours, so that they
can be released. My family lawyers have also said it is not possible to get my funds,
and I am an ex Federal Electorate President from the Liberal Party (in power at the
moment) and my political contacts are not aware of any way to release the funds based
on permanant departure. Though my first enquiries to my fund were meet with yes not a
problem, but then when it came time to fill in the forms I was made aware of the new
laws. Best of Luck, if you succeed let me know. Kelly
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[usenetquote2]> >Hi all,[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >If there are any Aussies out there who have immigrated to the States, you may be[/usenetquote2]
[usenetquote2]> >able to help me with this. My husband (Australian) has money in a super fund[/usenetquote2]
[usenetquote2]> >through Suncorp Metway. It's not a lot, but no point in[/usenetquote2]
leaving
[usenetquote2]> >it here if we can transfer it to the States. Anyone know the procedure[/usenetquote2]
for
[usenetquote2]> >doing this? Can it be transferred into another kind of investment other[/usenetquote2]
than
[usenetquote2]> >a retirement plan?[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Another question - does he still have an obligation to vote in Australian[/usenetquote2]
[usenetquote2]> >elections? If so, I assume it's by postal absentee ballot. Does one just ring up[/usenetquote2]
[usenetquote2]> >the electoral commission and give an international address?[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Thanks for any input![/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Squeezle[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
>
to permanant departure from Australia is no longer possible, unless written
application was made before the first of July 1998. There are slightly different laws
if you were born before 1949. And if the total amount is less than $500 can be
withdrwn at termination of employment. However if you manage to get your funds out,
please let me know as I will transfer mine to the same fund as yours, so that they
can be released. My family lawyers have also said it is not possible to get my funds,
and I am an ex Federal Electorate President from the Liberal Party (in power at the
moment) and my political contacts are not aware of any way to release the funds based
on permanant departure. Though my first enquiries to my fund were meet with yes not a
problem, but then when it came time to fill in the forms I was made aware of the new
laws. Best of Luck, if you succeed let me know. Kelly
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[usenetquote2]> >Hi all,[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >If there are any Aussies out there who have immigrated to the States, you may be[/usenetquote2]
[usenetquote2]> >able to help me with this. My husband (Australian) has money in a super fund[/usenetquote2]
[usenetquote2]> >through Suncorp Metway. It's not a lot, but no point in[/usenetquote2]
leaving
[usenetquote2]> >it here if we can transfer it to the States. Anyone know the procedure[/usenetquote2]
for
[usenetquote2]> >doing this? Can it be transferred into another kind of investment other[/usenetquote2]
than
[usenetquote2]> >a retirement plan?[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Another question - does he still have an obligation to vote in Australian[/usenetquote2]
[usenetquote2]> >elections? If so, I assume it's by postal absentee ballot. Does one just ring up[/usenetquote2]
[usenetquote2]> >the electoral commission and give an international address?[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Thanks for any input![/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >Squeezle[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
>
Mar 25th 2001, 9:44 am
#8
Guest
Posts: n/a
Hi
I have also made enquiries with my super fund and they have told me the same
thing. You cannot access your funds until retiring age, whether you live in
Australia or not.
I only have several thousand in my fund but it would have come in handy to pay the
upcomimg fees involved in my DCF through Sydney and subsequent airfare to the states.
See you stateside
Steve
On Sun, 25 Mar 2001 11:18:05 +0930, "Kelly Daken"
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I have also made enquiries with my super fund and they have told me the same
thing. You cannot access your funds until retiring age, whether you live in
Australia or not.
I only have several thousand in my fund but it would have come in handy to pay the
upcomimg fees involved in my DCF through Sydney and subsequent airfare to the states.
See you stateside
Steve
On Sun, 25 Mar 2001 11:18:05 +0930, "Kelly Daken"
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Mar 25th 2001, 11:04 am
#9
Guest
Posts: n/a
Perhaps by the time we all retire and have access to our various superannuation funds
the woeful australian dollar will have improved on the exchange rate. Robyn
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[usenetquote2]> >I have just checked the regulations again. They state that the withdrawl of funds[/usenetquote2]
[usenetquote2]> >due to permanant departure from Australia is no longer possible, unless written[/usenetquote2]
[usenetquote2]> >application was made[/usenetquote2]
before
[usenetquote2]> >the first of July 1998. There are slightly different laws if you were[/usenetquote2]
born
[usenetquote2]> >before 1949. And if the total amount is less than $500 can be withdrwn at[/usenetquote2]
[usenetquote2]> >termination of employment. However if you manage to get your funds out, please let[/usenetquote2]
[usenetquote2]> >me know as I will transfer mine to the same fund as yours, so that they can be[/usenetquote2]
[usenetquote2]> >released. My family lawyers have also said it is not possible to get my funds, and[/usenetquote2]
I
[usenetquote2]> >am an ex Federal Electorate President from the Liberal Party (in power at the[/usenetquote2]
[usenetquote2]> >moment) and my political contacts are not aware of any way to release the funds[/usenetquote2]
[usenetquote2]> >based on permanant departure. Though my first enquiries to my fund were meet with[/usenetquote2]
[usenetquote2]> >yes not a problem,[/usenetquote2]
but
[usenetquote2]> >then when it came time to fill in the forms I was made aware of the new laws. Best[/usenetquote2]
[usenetquote2]> >of Luck, if you succeed let me know. Kelly[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
the woeful australian dollar will have improved on the exchange rate. Robyn
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[usenetquote2]> >I have just checked the regulations again. They state that the withdrawl of funds[/usenetquote2]
[usenetquote2]> >due to permanant departure from Australia is no longer possible, unless written[/usenetquote2]
[usenetquote2]> >application was made[/usenetquote2]
before
[usenetquote2]> >the first of July 1998. There are slightly different laws if you were[/usenetquote2]
born
[usenetquote2]> >before 1949. And if the total amount is less than $500 can be withdrwn at[/usenetquote2]
[usenetquote2]> >termination of employment. However if you manage to get your funds out, please let[/usenetquote2]
[usenetquote2]> >me know as I will transfer mine to the same fund as yours, so that they can be[/usenetquote2]
[usenetquote2]> >released. My family lawyers have also said it is not possible to get my funds, and[/usenetquote2]
I
[usenetquote2]> >am an ex Federal Electorate President from the Liberal Party (in power at the[/usenetquote2]
[usenetquote2]> >moment) and my political contacts are not aware of any way to release the funds[/usenetquote2]
[usenetquote2]> >based on permanant departure. Though my first enquiries to my fund were meet with[/usenetquote2]
[usenetquote2]> >yes not a problem,[/usenetquote2]
but
[usenetquote2]> >then when it came time to fill in the forms I was made aware of the new laws. Best[/usenetquote2]
[usenetquote2]> >of Luck, if you succeed let me know. Kelly[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
