Hi everyone, on the off chance some of the experts here might know, or know someone who knows :-)
I have been offered a job with an Australian employer, and they are legally obliged to pay a pension (they call it superannuation) to their employees as part of the package. I am uncertain if a dual US-British citizen can safely hold an Australian super without incurring PFIC, punitive taxes, etc etc. The employers don't know either, and I haven't managed to find reliable or consistent advice online. There seem to be some indications that it is not mentioned in the tax treaty at all (therefore grey area) and also indications that the way supers are set up is a trust, and therefore falls foul of US tax rules for expats, and would be heavily taxed.
If anyone has any advice or pointers that would be much appreciated.
I will be seeking professional advice as my tax affairs get more complicated (do they ever get simpler?? I wish) but I am currently in contract negotiations and have hit this roadblock, and would like to get a general steer on it so negotiations can proceed with accurate information.
Best wishes
Tom