Keep records of any overseas transactions in which the superannuation fund is involved, or has an interest, during the income year.
The involvement can be direct or indirect, for example, through persons, trusts, companies or other entities. The interest can be vested or contingent, and includes a case where the fund has direct or indirect control of:
- any income from sources outside Australia, or
- any property (including money) situated outside Australia. If this is the case, keep a record of the following:
- the location and nature of the property
- the name and address of any partnership, trust, business, company or other entity in which the superannuation fund has an interest
- the nature of the interest.
If an overseas interest was created by exercising any power of appointment, or if the superannuation fund had an ability to control or achieve control of overseas income or property, keep a record of the following:
- the location and nature of the property or income
- the name and address of any partnership, trust, business, company, or other entity in which the fund has an interest.