EV 1052177228376currentnon-binding advice

Foreign superannuation fund

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

Is the Fund a foreign superannuation fund as defined in subsection 995-1(1) of the Income Tax Assessment Act 1997 ?

2

Yes. The Fund only provides benefits for the specific future purposes of the individual's retirement. That is, the payment of benefits upon retirement, invalidity or death of the individual. This ruling applies for the following periods : 1 July 20XX to 30 June 20XX The scheme commenced on: 1 July 20XX

3

You migrated to Australia in 20XX. You are an Australian resident for tax purposes. You are a member of a foreign fund (the Fund). The Fund does not allow members to access their benefits for reasons other than retirement or permanent disability due to injury or illness. You are considering withdrawing monies from the Fund.

4

Income Tax Assessment Act 1997 subsection 995-1(1) Superannuation Industry (Supervision) Act 1993 subsection 10(1)