I returned to Oz from the UK a year ago and transferred my UK personal
pension monies to a major industry Super manager who was already looking after
my significant Australian monies that had been accumulated prior to living in
the UK. They then just amalgamated all my existing monies and the UK QROPS
monies (I thought they would be separate accounts).
I now wish to create an SMSF and use some of the Australian monies for
residential property purchase as part of my whole investment plan (ie I would
not need the UK monies for the property).
How do I split the QROPS monies from the Australian funds? Has anyone had a
HMRC ruling?
Common sense would say that I withdraw the exact amount of UK monies that
were transferred (plus the investment returns if necessary) and place these
into a QROPS SMSF and the remainder then can go into a non-QROPS SMSF (as was
teh case when teh UK mnies were transferred in the first instance). However I
do not want to get HMRC offside and I intend to meet all Australian and UK
requirements and hurdles for the SMSF to the letter.
Thanks very much for any assistance.
