familybliss

Yes , that is the legislation I am referring to . I had applied for a few funds ( geared) but the application form and the money were returned to me with a letter stating that this was not open to UK /EU citizens due to the AIFMD . When called to clarify , they repeated their line . These were global geared equity funds so were not specifically marketing / selling in the EU .

Thanks for that - but I am well aware of the nature , type , structure and the risks associated with these investments and had made an informed choice to invest in them . I have invested in similar products before. The Australian funds are more than adequately regulated and these draconian measures by the EU is to restrict EU citizens to similar products within the EU - much less to do with protecting the individual . It is a bit Orwellian in a free market to restrict individuals who are fully aware of the risks of investment products to only those of a particular geographical area based on their citizenship .

Hi All , Just wanting to know people's experiences on a particular issue . Recent legislation apparently prohibits British / EU citizens , irrespective of their current country of residency or citizenship to invest in alternative investment products ( hedge funds , geared funds , private equity , other wholesale managed funds which have these products ) . This is apparently because the Australian Alternative Funds do not intend to abide by the stringent rules being set by the EU and thus are not accepting EU citizens although I find no one is quite clear about the details . This seriously restricts one's choice of investments other than through personal super . Has anyone else had this problem ? I had long conversations with a couple of fund houses and they confirmed their position along the lines as stated above . Would be interested in others' views . Regards

This is not about the childcare centre , nor about the argument whether this is right , but wanting a mere clarification of the rules from someone who might have been in the same position before . The child is back in care and attending regularly . The reason the absences piled up was that the child care centre would not be able to keep a spot when the child returned after a 2 month period when she did not need to attend . We chose to pay for all that time when she was not attending just to keep the spot . My question was - as the limit of absences was reached , I can understand no further payment for any absences , but is there no further payment for when she is attending . Happy to pay - just wanting some clarification of the rule .

Hi all , Just wanting to know whether CCR is stopped completely after 42 absences for the year . The Govt website and other sources of information say no further CCR is payable for any absences after the 42 absence limit , but the child are centre has decided to charge full fees for attendances for the rest of the financial year . Contacting Centrelink on the phone has made things clear as mud ! So, is no CCR payable for any attendance to a child care service after reaching the limit of 42 absences ? Thanks guys

Thanks Andy .

Just bumping it up .... Anybody ?

Hi guys , Have decided to transfer NHS pension to Australian Super fund ( QROPS ) . We arrived in June 2011 and had initially thought we would just be here for a couple of years but changed our mind and received PR in Feb 2013 . As the transfer is happening more than 6 months after we left the UK we will have to pay some tax on the growth of the fund ( which we can elect the receiving super fund to pay @ 15% ) . However , is it the growth since we became PR ( Feb 2013 ) or since we arrived in Aus ( June 2011) on a 457 ? In case it is since the date we received PR , do we have to request the NHS Pensions to do another calculation for that date ( Feb 2013 ) so that we can calculate the growth from then ? The NHS will only provide this extra calculation at a cost . Have tried to use the residency calculator on the ATO website - not entirely clearcut . Would appreciate any advice .

Looking at the numerous posts , it is clear this issue is rightly quite important in the overall migration planning . Knowledgeable people have correctly opined that the transfer should not be done in haste ( for fear of falling foul of the ' six - month' rule ) and professional advice should be sought . However , even after taking professional advice , the decision to transfer or not should be made very carefully . The NHS pension is a defined benefits pension and in general a decision to transfer an NHS pension should be dependent on : 1. Whether the CETV offered is a fair one and whether the recipient feels comfortable with the offer . The CETV is arrived at after a complicated actuarial calculation and and partly reflects how well the pension fund is funded at the time and the general economic condition . Thus a CETV obtained at a later date might be substantially different from the original figure ( might be higher if the original figure was deemed to be low ). 2. The 'critical yield' - this is probably the most crucial thing to consider and all professional advice should give this . This computes and expresses ( as a percentage ) what the Aus destination fund should perform at to match the NHS payout . This figure ( critical yield ) is calculated after taking into consideration the different tax benefits of moving the fund to Aus . This should then be considered along with the different fees of any super fund and the tax on subsequent growth and an estimated gross performance that the Aus fund has to consistently perform at could be arrived at . If you think that the Aus fund could consistently outperform the gross critical yield then the NHS pension could be transferred . As Alan Collet had mentioned , an SMSF might be an option where the choice of investment is an individual one , but these have significant costs . It is mainly for these two reasons : a) the option of challenging the CETV and b) obtaining an accurate 'critical yield' that professional advice is required and advisors with actuarial knowledge are preferable . The six month rule does not apply to temporary residents on 457 . Currently , the performance of most super funds leave a lot to be desired .

Cheers Petals , that website is great . I will be booking a hotel through it .

Thanks Scotinaus - will head for the CBD from the airport .

Thanks a ton guys - very useful . We will definitely head into the CBD . Geoff/Tracy , is it best to book beforehand or do they have better rates at the airport ? Only a few days left now !!!