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Andrew from Vista Financial

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Andrew from Vista Financial last won the day on January 20 2017

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About Andrew from Vista Financial

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    Financial (Pensions) Adviser

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  1. Andrew from Vista Financial

    Obtain a UK Pension (Final Salary) Transfer Value

    Hi L2B2 Yes I can however it might be easier to do it offline, can you provide me your email address (PM) or email me directly to Andrew@vistafs.com.au Many thanks. Andy
  2. Andrew from Vista Financial

    Solitary retail Super QROPS suspended by HMRC

    Hello Ggs It was deleted in August by HMRC, this was a surprise to AESF (Tidswell) however this was apparently for a review that HMRC wish to conduct, AESF have this to say: "As you are aware the fund has a temporary removal from the ROPS list whilst HMRC undergo a standard review of the fund. The following is the latest from the trustee. ‘During the review it is the practice of HMRC to temporarily suspend the ability of UK Pensions Schemes to transfer funds to Australian qualifying schemes. At this stage, we have been advised by HMRC that the review will commence the week of 23 September 2018.’ Based on this, hopefully we will be back on the list shortly after 23rd September 2018, and be able to re-commence receiving UK fund transfers into AESF. This certainly does not spell the end and to my knowledge there are 3/4 other Super Funds going through the process of applying to be QROPS at the moment, one I understand is hoping to be up and running around November of this year. This also should have no impact on SMSFs obtaining QROPS. Cheers Andy
  3. Andrew from Vista Financial

    UK Mortage Australian Job?

    Hi Steven We don't actually do UK mortgages so wouldn't be able to help here I'm afraid. I do have a UK contact that is a Broker so I will PM you his details he may be able to answer your question. So is your plan to move back to Australia after the 2-3 years? If so I would think carefully about this strategy, buying a large asset like this for the short term can carry quite a risk (that's if you are thinking of selling it again when/if you move back (you may be thinking of keeping it as a rental?)). Regards Andy
  4. Andrew from Vista Financial

    UK Mortage Australian Job?

    Thanks Kate such kind words
  5. Andrew from Vista Financial

    Aussie pension

    Hi Fi H Yes that's correct if you were a permanent resident then you will only be able to draw this money under a condition of release: https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-paying-tax/Withdrawing-your-super-and-paying-tax/#Whenyoucanaccessyoursuper Typically this for most is retirement. KR Andy
  6. Andrew from Vista Financial

    Pension earned in Oz back to UK

    Hi Enduro Not if the investment return outweighs the fees, the fees shouldn't amount to more than around 1% ish (give or take) so market corrections aside you would expect returns to be a higher than this. KR Andy
  7. Andrew from Vista Financial

    5 year rule

    Hi Dave see this thread here should help answer your question: Regards Andy
  8. Andrew from Vista Financial

    Obtain a UK Pension (Final Salary) Transfer Value

    I would encourage anyone with a private UK Defined Benefit Pension Scheme (sometimes referred to as a final salary pension) to obtain a transfer value. Values have been increasing steadily over the years and it is believed that they have now perhaps peaked. We are seeing values on average standing around 25x the current annual pension benefits. This means that if you have a UK pension and the current benefit gives you a yearly pension of £10,000 the transfer value could be £250,000. So if you are a deferred member of a Defined Benefit (final salary) UK Pension Scheme and live in Australia we strongly believe that you should be proactive in this area and we (Vista Financial Services) can request the relevant transfer values and information for you. We can then if required provide advice around whether these benefits are best placed where they are OR whether they are going to work better for you in retirement elsewhere we can then if appropriate carry out a transfer for you. Our solutions include being able to transfer to an Australian Super Fund (QROPS) where applicable which is a solution only open to people above age 55 currently (due to HMRC legislation). We are also able to provide advice on transferring into an International SIPP (perhaps as an interim measure if under age 55 until it can be transferred to an Australia Super Fund) where the money can be appropriately invested as advised by us into UK and Australian currency dominated investments (I will expand more on this solution in another post). Please note that government pensions such a NHS and Police Pension cannot be transferred neither can the UK State Pension.
  9. Andrew from Vista Financial

    Getting a mortgage in Australia

    Thanks also NicF and Stacey said thanks as well
  10. Andrew from Vista Financial

    Getting a mortgage in Australia

    Wow, thanks so much for this TPQ, your words are really appreciated
  11. Andrew from Vista Financial


    Thanks, for that.
  12. Andrew from Vista Financial


    Hi I think that the 143 is a contributory temporary parent visa(?) This being the case then the answer to your question is that FIRB is required regardless of it being a new or established property. Also you may or may not be aware but there is a recently new stamp duty premium for temporary residents when purchasing as well (varies state to state). Have a look here (I am told that these calculators are up to date but please do not reply solely on this calculator), if you opt for foreign purchaser when completing it (as that covers temporary residents): http://www.vista.financialknowledgecentre.com.au/kccalculators.php?id=19 If you do have children here given all of the additional costs involved in purchasing you may wish to explore having them purchase it in their name/s however you should of course seek professional advice in relation to this strategy in the first instance to ensure all implications/ramifications are covered. Hope this helps. Andy
  13. Andrew from Vista Financial

    QROPS: natural expiry

    No problem, look forward to talking to you at the time just to clarify though that it is 5 clear UK tax years so probably more like 5.5 years for you. ATB Andy
  14. Andrew from Vista Financial

    Permanent Residents Wanting to Return to UK- Superannuation?

    Hi Not as I understand it. The situation would differ if you exited Australia as a temporary resident only. Hope this helps. Andy
  15. Andrew from Vista Financial

    QROPS: natural expiry

    Hi again So if it is a pre-April 2017 transfer then it would fall under the old rules. The old rules are based on an unauthorised member payment charge being levied on an unauthorised payment IF the member is a UK tax resident or has been a UK tax resident within the last five full UK tax years. Therefore it may well be (depending on your cessation of UK tax residency) that you would not be liable for such a charge. This being the case it is likely a QROPS would not be required if considering rolling out. I am able to provide personal advice that would cover this IF you wish. Hope this helps Kind regards Andy