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Australians moving overseas - SMSF implications

Publication date: 25 Aug 16 | Source: INTAX

Issue: Jul 2016

Pages: pp 14-16


When members of an Australian self-managed superannuation fund (SMSF) become non-residents for tax purposes, or temporarily leave Australia for a period of more than 2 years, the SMSF runs the risk of losing its status as a complying superannuation fund. This status is particularly important as complying funds can access concessional tax treatment.
This article considers the key tax residency rules that an SMSF must satisfy to meet the definition of an Australian superannuation fund and therefore be able to retain its complying fund status. The article additionally considers some options available to assist SMSF trustees retain Australian tax residency.

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Clive Bird CTA
Clive is a Tax Partner with William Buck. - Current at 09 June 2004
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