Navigating Super and KiwiSaver Transfers for Trans-Tasman Moves (Dec 24 Tax Update)
Relevant For:
Australians and New Zealanders planning permanent moves between the two countries
Key Points:
- Transfers between KiwiSaver and Australian super funds are possible, but, voluntary.
- Only APRA-regulated and participating providers allow transfers.
- Tax-free transfers, but, funds are subject to access restrictions in each country.
- Contribution caps apply for transfers to Australia, but, not to New Zealand.
- Funds must remain in the scheme; they can't be withdrawn early or sent to a third country.
Full Article:
For individuals planning permanent relocation between New Zealand and Australia, understanding how to manage retirement savings under the Trans-Tasman Retirement Savings Portability Scheme is crucial.
This voluntary scheme allows transfers between Australian superannuation funds and New Zealand KiwiSaver schemes, provided both providers participate.
Key Considerations for Transfers from New Zealand to Australia
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