Hi,
I will be living abroad for the foreseeable future, I know that if I don't make contributions to my super and it falls below $6000 it will be handed over to the ATO as ATO held super.
Are there any super funds that cater to people living abroad or making minimum contributions to their super? Or would it be better to just let the ATO hold onto my super until I am ready to return to Australia?
Thank you for your help.
Hi @ MinhSon,
Super funds must report and pay balance to us for account holders in specific situations.
For your super account to not be taken as an inactive low-balance account, you'll need to give a written notice to your super fund declaring you're not a member with an inactive low-balance account. The written notice is valid for 16 months.
If the superfund transfers your balance to us, we'll hold it util you reach the retirement age and then transfer it to your nominated bank account. Otherwise, if you plan to return, you can rollover the funds into an active Superfund account 😎
Hi @ MinhSon,
Super funds must report and pay balance to us for account holders in specific situations.
For your super account to not be taken as an inactive low-balance account, you'll need to give a written notice to your super fund declaring you're not a member with an inactive low-balance account. The written notice is valid for 16 months.
If the superfund transfers your balance to us, we'll hold it util you reach the retirement age and then transfer it to your nominated bank account. Otherwise, if you plan to return, you can rollover the funds into an active Superfund account 😎
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