Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between a complying and a non-complying fund?

April 26, 2017complying difference fund non-complying

0

Posted

What is the difference between a complying and a non-complying fund?

1 Answer

0

Posted

Complying fund A complying super fund is a fund that has: • elected to be regulated • complied with the regulatory provisions as defined in the Superannuation Industry (Supervision) Act 1993 (SISA), and • has not received a notice of non-compliance Complying super funds that meet the SISA standards qualify for a concessional tax rate of 15%. Non-complying fund Non-complying funds are funds that: • are not regulated • are not residents of Australia, or • do not comply with the SISA regulatory provisions and have been issued with a notice of non compliance Non-complying super fund do not qualify for concessional tax rates. The rate of tax for a non-complying super fund is 45%.