Published on 01 Feb 11
by "THE TAX SPECIALIST" JOURNAL ARTICLE
Foreign retirement funds are not universally treated by the Australian Taxation Office as “superannuation”. As a result, your clients with interests in US, NZ or Canadian retirement funds, among others, face a dual dilemma. If they shift the funds to Australia, they may be taxed harshly. If they leave the funds offshore, they may be caught by the proposed “anti-roll-up rule” designed to replace the now repealed foreign investment fund regime.
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