poolprouk Posted February 6, 2019 Share Posted February 6, 2019 (edited) Situation - Currently an Australian Citizen (Jan 2019) but have been PR since May 2013 when moved to Australia with Partner Visa In 2004/2005 I was a Working Holiday maker and earned some super which then sat in the unclaimed super fund managed by the ATO until last year. My current super fund in Australia (AMP) identified this super mid 2018 and asked me if i wanted to transfer it to my AMP account. I said yes, go ahead (Jul 18 - so just a PR at that time, not a citizen). Amount held in ATO unclaimed super fund was $1296. Upon rollover to my AMP fund- $295 was classed as Tax Free, with the remainder subject to a 65% tax ($650). Therefore only $647.50 was rolled over to my AMP fund. That 65% rate seems high for someone who is a permananet resident? If i had departed permanently then fair enough but not when i'm PR. Should i lodge an objection? Thanks for any advice offered Edited February 6, 2019 by poolprouk correction of error Quote Link to comment Share on other sites More sharing options...
Marisawright Posted February 6, 2019 Share Posted February 6, 2019 (edited) Call or write to them and ask them to explain, in writing, why the tax was applied. It sounds like a mistake to me. Knowing AMP, anything's possible. By the way, once you've got the tax sorted out, move ALL your superannuation to another fund. AMP are rip-off merchants. But get the tax sorted first! Edited February 6, 2019 by Marisawright Quote Link to comment Share on other sites More sharing options...
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