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Foreign Retirement Funds
Do you know the ATO takes a very narrow view on KiwiSaver, US 401(k), 403(b) funds, Canadian retirement savings plan and UK individual pension plans, Japanese pension?
If you have an interest in those foreign retirement funds, you might be subject to very harsh tax treatment. It is also unfortunate that the new Foreign Accumulation Fund rule is still not passed as the final legislation, with an effective date from 1 July 2010.
We strongly recommend that you seek professional advice as to the tax treatment of the investment in foreign retirement funds.
Want more tax tips? Follow us @batescosgraveCA
Do you know the ATO takes a very narrow view on KiwiSaver, US 401(k), 403(b) funds, Canadian retirement savings plan and UK individual pension plans, Japanese pension?
If you have an interest in those foreign retirement funds, you might be subject to very harsh tax treatment. It is also unfortunate that the new Foreign Accumulation Fund rule is still not passed as the final legislation, with an effective date from 1 July 2010.
We strongly recommend that you seek professional advice as to the tax treatment of the investment in foreign retirement funds.
Want more tax tips? Follow us @batescosgraveCA
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Disclaimer
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
