BaanOz

I think you should DYOR as whatever I say will be shot down with zero fact checking on your part. Just search... CRS Non-Reporting Financial Institutions

With respect, best to do your due diligence on previously provided* before asking more. *Not tax advice.

Have already spelt it out clearly and just a final point about CRS… then have the last word as on most threads here and go enjoy your retirement. 😀 • Likelihood of Sharing: Low for standard superannuation accounts held by Australian tax residents or non-residents, unless the account falls outside the typical superannuation structure (e.g., certain SMSFs with foreign investments).

Started work 1980 and remember being harassed to join some scheme back then but wasn't popular. I though it was a scam. Started superannuation 1988. Yes salaries low but compounding is the winner.

Good point, he said "Private". Thought he might have been in the alternate.

Yes DTA tax exemption only covers service pensions. The OP he said "private" superannuation fund and I'd assume that means he's in a taxed superannuation fund ie: not government/public sector. If he was in a non-taxed government then bad luck on the Australian tax side (good luck on Thai). Your own quotation above clearly shows there is a difference between taxed vs non-tax superannuation funds and you might want to look this up for more info. OP must withdraw the mandatory X% of his superannuation depending on age from his "private" superannuation fund and if it goes into an Australian bank and if it earns interest then yes - proposed Australian foreign taxed. Maybe he can transfer it direct to a Thai bank account and avoid that happening. Another option is pushing money back into his superannuation to avoid paying the proposed Australian foreign tax ie: info as I provided above, BTW I'm self funded as the OP Non-Resident Considerations Taxed Fund (e.g., private sector): Lump sum: Tax-free at age 60. Income stream: Tax-free at age 60. Untaxed Fund (e.g., public sector): Lump sum: May be taxed in Australia, even at age 60. Income stream: May be taxed in Australia, with potential relief under a DTA.

Public Sector Funds: Likely around 1.6 million accounts (estimated), with $542 billion in assets (14% of the market). These often include defined benefit schemes for long-term members, though newer members are in accumulation funds. Private Sector Funds: Approximately 20-22 million accounts (including multiple accounts per person), with $3.1 trillion in assets (76% of the market, including industry, retail, and corporate funds). SMSFs add another 1.1 million members and $933 billion.

This is fear mongering the OPs question when he will pay zero tax ans I understand unless he is in a government/public servant super fund. What you say is all well and good but irrelevant.

Exemption on foreign superannuation funds has nothing to do with non-resident tax and Australian taxed superannuation funds. Everyone’s situation is different but odds are the OP (who only asked about Thai tax) is in a superannuation fund like most Aussie, so this talk of 45 days etc is irrelevant. I’ve investments within an Australian taxed superannuation fund so have no fear of mongering. 😀

No need to yell YOU. Have already said what I'd do if this comes to fruition and substantially affected us.

You have already provided the appropriate link which I've highlighted. Lucky for me and most other Australians are not in a government superannuation funds.

Just a way around this could be to “commute” the pension. ie: get cash back into the tax free environment. There are age and possibly dollar limits of doing this depending on the superfund but another option if the above actually comes to fruition. Video here explains: https://www.superguide.com.au/retirement-planning/can-i-add-to-super-after-i-commence-a-pension

Until it's law, that's hard to answer without knowing details if it even gets passed. I guess 45 days would be fine while we still have an empty house in Australia. I understand (not being a tax expert!) superannuation payments remains tax-free regardless of your residency but outside super you'd lose that $18200 tax free amount and pay foreign tax rates on interest, dividends, rental income etc. As time goes by, if we personally don't spend the 4%++ mandatory super per year and it goes into a saving account - we may get slugged on the interest if this law passes and unless of course we don't do the 45 day thingy.

A legal decision in 2013 shows that a person who fails to cut their connection with Australia will be treated as an Australian resident. http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/aat/2013/604.html https://www.ato.gov.au/individuals-and-families/coming-to-australia-or-going-overseas/your-tax-residency#Residencytestshttps://www.ato.gov.au/individuals-and-families/coming-to-australia-or-going-overseas/your-tax-residency#Residencytests

Australian and knew immediately what Dr Jack meant ....and having baht, would rather not "tie it up" with such a crappy return. Talking of such, anyone know a good agent it Phuket?