Elen Brunton is one of millions of people who have worked overseas and later face a minefield of legal and taxation rules to consolidate superannuation savings in Australia . Brunton, who is returning to work temporarily in Britain after 25 years in Australia , says the complexities of managing super assets in countries with different retirement rules and currency risks can be overwhelming. "It's a nightmare," Brunton says.
"Which transfer company do I pick to minimise my tax risk and currency volatility? There are so many dodgy operators out there." Billions of dollars owned by hundreds of thousands of immigrants and expats are estimated to be in overseas funds and likely to be transferred to Australia during their work lives or retirement. The flow of super funds into Australia has been accelerating as immigration hits record highs and a recently weak dollar has made it more attractive to convert from foreign currencies, says transfer specialist
Source: Law Daily Report (lawdailyreport.net)
Superannuation Savings Expats Immigrants Australia Legal Taxation Currency Risks Transfer Specialists
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia's Compulsory Superannuation System Faces Challenges in Managing Retirement FundsAustralia's compulsory superannuation system, which has created a large savings pool over the past three decades, is facing challenges in adequately managing retirement funds. As millions of Australians are set to retire in the next decade, the industry is being urged to improve service standards and effectively communicate with members.
Source: FinancialReview - 🏆 2. / 90 Read more »
Cost of living Australia: Superannuation has become a wealth vehicle, says Kristina KeneallyFormer NSW premier and senator Kristina Keneally has ruled out a return to frontline politics and says Labor’s plans to double charitable giving needs more work.
Source: FinancialReview - 🏆 2. / 90 Read more »
Aware Super CEO wants members to know that superannuation is ‘their money’Aware Super CEO Deanne Stewart says it is important for members to know that superannuation is “their money”. Ms Stewart told Sky News Business Editor Ross Greenwood that Aware Super has a “responsibility” to help its members. “As much as we possibly can.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Superannuation wars: A strong and strategic voice on super for 10 million AustraliansThe new Super Members Council will advocate for high standards of performance, clear and meaningful transparency and the ability to access the right information about retirement.
Source: FinancialReview - 🏆 2. / 90 Read more »
Superannuation and saving: The best advice you can give to your kidsHow to empower them to make informed decisions about their personal finances as they grow.
Source: FinancialReview - 🏆 2. / 90 Read more »
Meg Lanning was Australia's greatest-ever skipper of Australia's greatest-ever teamMeg Lanning's record as an unflappable Australian skipper will stand the test of time, but the legacy she leaves for women's sport will make meaningful change now.
Source: abcnews - 🏆 5. / 83 Read more »