Heading overseas for an indefinite period of time has compliance issues with regard to your SMSF which may result in your super being wacked with the marginal rate of 47% instead of the 15%...options are rolling over to an industry standard fund or a small APRA funds.
Fees on Small APRA's will typically come in around the 1.5% mark, whilst not forgetting that their investment strategics are fairly confining i.e - No equities outside ASX200 and at that, each of those stocks can only be a small percentage of the overall fund value.
An option to keep your SMSF complaint, whilst also making sure that you dont contribue to teh fund whilst out of the country is the appointment of an enduring power of attorney (POA) by using a family member or close friend to cover the central management requirement which is that the Central Management and Control of the fund is Ordinarily in Australia.
The SMSF group that I'm currently with won't go the POA route as they reckon it adds a layer of complexity to the service they provide.
Has anyone had any experience with the POA route? Any issues with it? Know of any SMSFs that once can roll into with a POA without handing the POA a bucket of administration legwork?
