Consolidating superannuation ato

Posted by / 22-Mar-2020 04:42

Consolidating superannuation ato

Have you worked in Australia at any time since 1992 and since moved back to New Zealand?Now might be a good time to think about bringing your Australian superannuation back into your Kiwi Saver account.Back to top There are a number or reasons to consider consolidating your superannuation investment in New Zealand. Please read the information contained on these pages, as it will assist you in making a decision about whether or not you can bring your Australian superannuation funds across to New Zealand.Because the New Zealand and Australian tax regimes are different, we recommend that you obtain specialist tax advice to discuss what effect bringing your investment to New Zealand may have. If you wish to speak with one of our Kiwi Saver Specialists or an Authorised Financial Adviser regarding your situation, please contact us - we are happy to help. If you have “lost” your superannuation, make a start by contacting the ATO using their searching for lost super form.Unfortunately, money transferred from the Australian superannuation system is not able to be used for first home withdrawals.If you move back to Australia after transferring to the Summer Kiwi Saver scheme, you are able to transfer your savings back to Australia.

We recommend speaking with your preferred Australian provider prior to completing any paperwork.

If you know your Australian provider, contact us we’ll get the process underway. We’ll get in touch with the Australian provider and work with you to get everything together that the Australian provider needs to action your request. Send everything back to Summer, we’ll make sure everything is ok and provide our details before sending your request off to the Australian provider. You may need to give it a little time, but we’ll be in touch with any information we get regarding your transfer, please be aware that the Australian provider may also get in touch with you directly.

Please note that any transfer of Australian superannuation must be for the whole amount of the funds invested with your Australian provider(s). Should you need any assistance in dealing with the Australian provider please contact us and we’ll be in touch.

You can check whether your fund is APRA certified by going to the super fund look-up website.

Self managed super funds' (SMSF) are not covered by the trans-Tasman portability arrangements and can't be moved to Kiwi Saver.

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Below we cover some common questions around Trans-Tasman including the transfer process and what happens when your Australian funds arrive.

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