What is the foreign exchange calculation to use on a SMSF lump sum from a foreign pension?

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 · Accepted Answer

CaroATO · Answer

The interpretative decision you've so kindly included a link to, talks about a lump sum payment from a UK super fund to an individual's Australian super fund rather than specifically SMSF. I know SMSF have their own rules and because of this we've a fantastic SMSF specific advice (https://www.ato.gov.au/Forms/How-to-apply-for-SMSF-specific-advice/) team you might want to have a chat with. Keep in mind, before a SMSF tax return is lodged, it must be audited. We understand people make mistakes and give you an opportunity to work with your auditor to correct (https://www.ato.gov.au/Super/Self-managed-super-funds/Administering-and-reporting/How-we-help-and-regulate-SMSFs/SMSF-early-engagement-and-voluntary-disclosure-service/) them.

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