DAN135

I have been in Aus for 7 years and have a moderate amount in a REST super fund. I am now moving back to the UK, probably indefinitely. I know I can't access super until I am 60 as I am now a Aussie citizen and the DASP only applies to temporary residents. I have heard that the ATO 'seize' inactive super accounts. I have informed REST of my plans but is there anything I need to do to ensure my super is safe over the next 23 years until I need it? Many thanks

It looks like Western Sydney (Around Narellen, Cobbity, Campbelltown, Bringelly, Badgery's Creek) will experience massive housing construction over the next 15 - 20 years according to government plans. Vast areas of land are already being constructed on and this is only the start. We have been to visit several housing developments in these areas and prices are fair compared to Sydney. My concern with buying here is whether the value of the property will actually increase in the coming years, given that the dynamics are completely different to Sydney where there is no more land to build properties hence demand for the existing properties spirals. There is effectively unlimited land in Western Sydney for developers to continue their construction. If the bubble bursts do you think these areas will be hit particularly bad? These areas are the only places we can realistically afford to buy in. I'd welcome peoples thoughts, thanks

I am starting a super fund, currently as a self employed sole trader. I will attempt to set up as a business with myself as the sole employee once my accountant actually replies to a message. Most people in my line of work use this structure. The type of super fund I can open is different for a sole trader and business as I understand it. But can the sole trader type fund be transferred to the business fund once I change status? As a side issue, why do financial advisors and accountants in Australia feel it is acceptable to ignore simple questions, phone messages and emails and act like that is normal practice here? Three separate unrelated financial professionals have acted exactly the same way towards me over the last 3 years. I made it clear to all of them I would be happy to pay any rates for their professional time as long a I can obtain quality advice about my specific questions. I'm sure there are some good ones out there but I'm yet to find one.

I am an independant contractor so no employer contributions for me. I have to choose a fund and pay the entire amount myself. Your reply did clarify things a bit for me though, thanks. I just can't decide whether I should keep saving up the cash for if/when we return home or whether to invest it in Super for a few years before we leave, knowing we won't see it for another 30 years!

We have been in Aus for 2 years and are still enjoying life here but it doesn't feel like home and we may consider moving back in 3-5 years. Is it worth putting $20k per year into a super fund here for our remaining years? The interest rates on savings and term deposits are poor. Any other strategies people would suggest in this situation? Moderate/ high risk investments? We are young (31 and 30) so can tolerate a degree of risk. Is the a financial penalty when the money is paid back to us in the UK at retirement age? Ie Do we have to pay tax twice? Having no idea at all what the exchange rate would be in 30 years time is also worrying. Thanks in advance