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International Investing / Australia (All-Ordinaries)

URL:  http://boards.fool.com/hi-alexei-wed-recommend-you-get-specific-30075256.aspx

Subject:  Re: Superannuities to IRAs? Date:  6/2/2012  3:45 AM
Author:  TMFGilla Number:  6183 of 6186

Hi Alexei,

We'd recommend you get specific legal/taxation advice.

However, from my reading of the ATO rules, there is no release mechanism until your wife retires or meets another 'condition of release' (usually disability or severe financial hardship).

The reason seems to be that as an Australian citizen, she has the opportunity to return to Australia to retire - so the system requires any superannuation to be held until retirement for that reason.

Again - the system is very complex, please seek personal advice before taking action either way.

I hope that's helped somewhat.

Scott
TMFGilla
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