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My SMSF is in pension mode and I qualify for the CSHC.
I would like to go overseas for 2 to 3 months but am confused how this will affect the CSHC.
Newspaper articles relating to this are bit confusing – some say maximum overseas stay of 6 weeks, while others say 19 weeks.
I know that for travel over 6 weeks the card is cancelled and a new application must be lodged. Would this not lead to loss of grandfathering for current holders?
A: From 1 January 2013, there is a 6-week concession period if you temporarily depart Australia.
If you’re overseas for more than six weeks and the card is cancelled then you might be able to lodge a verbal phone claim for a new CSHC.
To do this you’ll need to have returned to Australia and be able to provide an estimate of your income. This claim must be made within 13 weeks of the card being cancelled.
6 plus 13 is 19 so I suspect this is where they got the 19 weeks from.
If your card has been cancelled for more than 26 weeks then you’ll need to lodge a full new claim for the CSHC.
Cheers,
Tony Negline
