United States: Australian Superannuation Reforms May Negatively Impact US Citizens

Last Updated: May 15 2017
Article by Marsha-laine Dungog

The following article authored by Marsha-laine Dungog JD, LLM (US Tax)1was first published in SMSF Advisor on May 12, 2017.

Last May 4, President Trump and Prime Minister Turnbull celebrated the 75th anniversary of the Battle of the Coral Sea in New York aboard the USS Intrepid, a World War II aircraft carrier. In his commemorative speech, President Trump renewed friendship and lasting partnership with Australia noting that the ties that bind the two countries had been "sealed with the blood of their fathers and grandfathers".2 This recent warming of relations between Trump and Turnbull since the purportedly "combative phone call"3 between the two leaders last February 2017 is fortuitous indeed. Perhaps it will provide the political momentum for much needed amendments to update the Australia-US tax treaty,4 particularly Article XVIII which does not definitively address whether the United States can impose tax on contributions, earnings and distributions from Australian superannuation funds that are owned by US citizens residing in Australia (US expat).( http://moodysgartner.com/u-s-taxation-australian-superannuation-funds-super-not-super/)

Absent bilateral treaty renegotiations, US expats, who are obligated to pay US taxes on their worldwide income, have no other recourse except to trundle through the byzantine tax laws of both countries in order to arrive at a defensible (though uncertain) position on why Australian superannuation funds should not subject to US taxation. Thus far, the certainty and clarity of that solution has remained elusive. US expats who become fully compliant with their US tax obligations have done so at a price so steep that many have decided to renounce their US citizenship ( http://moodysgartner.com/renouncing-your-u-s-citizenship-is-divorcing-uncle-sam-right-for-you/) ( http://moodysgartner.com/super-reason-australians-renouncing-us-citizenship/ )

While the need for clarity on the US tax treatment of superannuation funds is needed, recent changes to Australian taxation and superannuation law significantly raise the need for this clarification. Indeed, on July 1, 2017, recent legislative reforms to Australian Superannuation laws will take effect.5 These reforms complicate the US tax filing obligations for US expats ( http://moodysgartner.com/u-s-citizens-living-australia-u-s-tax-filing-obligations/) in the following ways:

1. Lowered Concessional (Pre-Tax) Contribution Cap and Decreased Income Thresholds for Additional 15 Percent Tax

An Australian superannuation account is funded primarily by concessional contributions which are paid by an employer and an eligible employee up to a maximum amount of AUD $30,000 per annum.6 Neither compulsory employer contributions nor the voluntary pre-tax employee contributions are taxable to the employee in Australia. However, such amounts constitute assessable income subject to a 15 percent tax upon entry to the superannuation fund trustee (contributions tax) Further, employees earning above a "high income threshold" of AUD $300,000 per annum are required to pay an additional tax of 15 percent on their "low tax" contributions.7 Effective July 1, 2017, the income threshold for liability to Division 293 tax will reduce to AUD $250,000 per annum and the maximum concessional contribution amount will be reduced from AUD $30,000 to AUD $25,000 per annum.

From Double to Triple Taxation?

The US tax laws generally do not recognize concessional employer and employee contributions to a superannuation fund as non-taxable income to a US expat. On the contrary, both concessional contributions and earnings accrued on such amounts are treated as a gross income to a US expat, subject to US tax at ordinary income rates. Starting in 2017-2018, Australia will now impose an additional 15 percent tax on concessional contributions if the US expat has a "High Income Threshold" above AUD $250,000 per year. Depending on how concessional contributions are classified under US law, this could be bad news for individuals who are subject to US tax, because the additional 15 percent tax could result in triple taxation.

2. Reduction in Annual Non-Concessional Contributions Cap

Currently, individuals under 65 years old are allowed to make non-concessional contributions of AUD $180,000 per year (or AUD $540,000 by "bringing forward" the next two contribution years). These non-concessional contributions are from after-tax (or post-tax) monies, so there is no tax payable either by the individual or the superannuation fund on these contributions. Earnings from these amounts are subject to a flat rate tax of 15 percent in the accumulation phase and can be transferred tax-free into a retirement account or pension when the superannuation member retires or meets another condition of release from the preserved superannuation environment. Under the new law effective July 1, 2017, individuals under 65 years will have reduced annual non-concessional contributions of AUD $100,000 per year with a three-year bring forward AUD $300,000.8 However, there is a transitional period for individuals who have made their annual non-concessional contributions and triggered their three-year bring-forward amounts prior to July 1, 2017. Such individuals will be allowed to access their bring-forward contribution amounts at the reduced thresholds, depending on when they triggered their bring-forward. Importantly, individuals with a superannuation of AUD $1.6m or more (based on their "total superannuation balance" as at 30 June of the financial year prior the year of contribution) will not be allowed to make any additional non-concessional contributions

US may Tax Both the Annual and Bring Forward Amounts Contributed by US Expats

Unless the issue is clarified under the Treaty or under US domestic law, non-concessional contributions and earnings accrued on such amounts are currently subject to US tax. The fact that such amounts are off-limits to a US expat while deposited in a superannuation savings account until retirement does not change the current taxability. From a US perspective, superannuation savings accounts funded with after-tax monies are generally classified as non-exempt foreign pension plans that are taxable to the US individual it benefits. While these accounts are functionally similar to Roth IRA or 401K (which are funded with after-tax monies and accumulate in a 401K account tax-free) the tax consequences are completely different. After-tax monies contributed to a Superannuation account that represent annual caps and three-year bring-forward amounts are taxed at ordinary income tax rates for US tax purposes. US expats that are incentivized by Australian legislation to max out their annual non-concessional contributions cap to trigger their three-year bring-forward contribution amounts within the transitional period may also incur substantial US tax liabilities for doing so.

3. Introduction of an AUD $1.6m Lifetime Transfer Balance Cap

Starting July 1, 2017, there will be a cap of AUD $1.6m on the total amount of superannuation savings that can be transferred from an accumulation account to a tax-exempt retirement account. To enforce the transfer balance cap, individuals will be required to commute one or more of their superannuation income streams where they have an excess transfer balance.9 Unless the US tax law is clarified, US expats with amounts in excess of AUD $1.6m in their superannuation savings who will be transitioning to retirement and those who are already in retirement with more than AUD $1.6m in their retirement accounts will generally have two options: leave the excess amounts in their accumulation account where earnings are taxed at the standard 15 percent rate or withdraw the excess amounts from superannuation which may be subject to tax for Australian tax purposes where the member is less that age 60.10 We note that a third option, which involves the use of limited recourse borrowing arrangements (LRBAs) by SMSFs is the subject of recently proposed legislation which will severely restrict the use of LRBAs as a workaround to the total superannuation balance non-concessional contribution cap rules and effectively transfer growth from accumulation phase to retirement phase without being counted towards the transfer balance cap.11

More Adverse US Tax Consequences?

The imposition of an AUD $1.6m lifetime balance transfer cap from an accumulation account to a retirement account holds potentially disastrous tax consequences for a US expat with superannuation accounts in excess of AUD $1.6m. Such an individual has the two options12 referenced above, and unless clarification of US law is forthcoming, both options potentially increase their US tax liabilities.

A US expat whose superannuation savings are in accumulation phase generally13 has no ability to withdraw, pledge or dispose of those savings until he or she reaches retirement age. Until such time, earnings generated in the accumulation account are taxed to the fund at concessional rates of 15 percent and do not constitute assessable income to the US expat for Australian tax purposes. Both the principal amounts and earnings generated therein arguably do not constitute current taxable income to the US expat because of very strict restrictions and conditions that bar access to such superannuation funds by the US expat.

However, under the US tax doctrines of economic performance and constructive receipt, the presence of substantial impediments to a US expat's ability to access and control the use of such funds negate inferences that the US expat has gross income equivalent to such contribution and earnings. The introduction of options to transfer or withdraw such superannuation amounts to meet the AUD $1.6m transfer balance cap by July 1, 2017, gives a US expat constructive receipt of such funds, i.e., they can either re-invest it back into the superannuation savings account or withdraw it permanently from superannuation by cashing out of the system. This ability to invest or withdraw at their discretion arguably provides the US expat with the ability to access and control the disposition of the superannuation account, notwithstanding that rolling back monies from the retirement phase to accumulation phase does not result in the US expat actually receiving any of the money. Consequently, the US expat would recognize such excess amounts that are transferred or withdrawn as current gross income, which is subject to current US tax under the US tax doctrine of constructive receipt.

4. Spousal Contributions

With the uncertainty and potential negative US tax consequences appurtenant to Australian superannuation, many US expats are tempted to address their unenviable position by transferring a portion of their Super as a contribution to the Super of their non-working non-US citizen spouse. Australian law allows a limited tax offset of up to AUD $540 for contributions made to the Superannuation account of a low income or unemployed spouse of up to AUD $3,000.14 However, Australian law does not limit the US expat from contributing more than that amount, possibly up to the AUD $180,000 non-concessional contribution cap for the non-citizen spouse. Under Australian law, these contributions are not taxable to either spouse.

While transfers of property between US citizen spouses are technically not subject to tax under domestic US tax laws under IRC Section 1042 (incident to divorce or separation), gifts to spouses are subject to the same annual gift tax exclusion (USD $14,000) and lifetime unified gift and estate tax exemption (USD $11m for two US citizen spouses). However, a US expat with a non-US citizen spouse is also entitled to claim a unified exemption of half that amount of USD $5.49m. Any amounts in excess of such exemption are subject to a hefty US estate and gift tax of 40 percent in addition to US tax reporting obligations. We would caution US expats from transferring amounts in excess of the AUD $1.6m balance from their superannuation savings accumulation account or retirement account to their non-citizen spouses without considering the potential US gift taxes payable on any amounts that exceed the annual and lifetime unified exemption thresholds.

US expats in Australia are stuck between the devil and the deep blue sea. This is because complying with Australian superannuation reforms by July 1 would trigger not just double but triple taxation by the US on their superannuation contributions, earnings, and distributions. With "damned if you do and damned if you don't" consequences to becoming compliant, US expats may simply ignore the problem and hope it goes away. However, ignoring the problem may not be the most prudent course, especially for those in Australia and Asia-Pacific. This is because, in December 2016, IRS Commissioner Koskinen stated that the IRS plans to expand and further modify its OVDP operations to "turn around and look West...to Hong Kong, Singapore and all of Asia."15 Indeed, the window of opportunity for US expats in Australia to become fully compliant is likely to run out as the IRS "tin man" will be skipping down that yellow brick road in the merry land of Oz.

Footnotes

[1] Director (US Tax) at Moodys Gartner Tax Law LLP. The author would like to thank Roy Berg, Director (US Tax) at Moodys Gartner Tax Law LLP; Craig Meldrum, Head of Technical Services and Strategic Advice, Australian Unity Personal Financial Services Limited; and Daniel Baldovin, Director –Head of Tax Advisory, Chapman Eastway, for the insightful comments to this article.

[2] See, Katharine Murphy, Trump Vows "lasting partnership" with Australia 75 years after Battle of Coral Sea, https://www.theguardian.com/us-news/2017/may/05/trump-vows-lasting-partnership-with-australia-75-years-after-battle-of-coral-sea

[3] http://www.theage.com.au/federal-politics/political-news/this-is-the-worst-deal-ever-donald-trump-badgers-and-brags-in-call-with-malcolm-turnbull-20170202-gu3r6u.html (site visited February 2, 2017).

[4] Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, U.S.–AUD., Aug. 6, 1982, 35 U.S.T. 1999 (hereinafter the "Treaty"), as amended by Protocol signed on Sept. 27, 2001.

[5] In November of 2016, the Australian Parliament passed legislation to implement superannuation reforms to make the widely popular superannuation system more sustainable for its aging population by increasing flexibility and incentives for savings. See Superannuation (Objective) Bill 2016 which sets out a clear objective for Superannuation: to provide income in retirement to substitute or supplement the Age Pension. See http://www.treasury.gov.au/Policy-Topics/SuperannuationAndRetirement/Superannuation-Reforms (site visited February 2, 2017). The provisions of the Superannuation Reform package pertaining to a formal legislated objective for the superannuation system was split from the other elements of the reform package that was passed by Senate in November 2016. Rather, the legislated objective provision was referred by the Senate to the Senate Economics Legislation Committee (SECL) for inquiry and report by February 14, 2017. The SECL report, issued last February 2017 recommended passage of the Superannuation Bill 2016 provision on legislated objective and can be accessed at the following link: http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/SuperObjectiveBill2016/Report (as of March 21, 2017).

[6] For people who are 49 years of age as at 30 June of the year prior to the year of contribution, the maximum annual cap on contributions is AUD $35,000 per annum. An Australian employer must make a compulsory tax-deductible contribution (the Superannuation Guarantee) of at least 9.5 percent of the employee's salary or wages, while an eligible employee can make voluntary pre-tax and after-tax contributions. From 1 July 2017, and employee will also be able to make personal deductible contributions to superannuation in addition to employer pre-tax contributions subject to the reduced concessional contributions cap of AUD $25,000 per annum.

[7] A superannuation member's "low tax contributions" are essentially her or his "concessional contributions" (as modified by the special rules for certain defined benefit interests) less any excess concessional contributions for the financial year (if any): § 293-25 and 293-30 ITAA 1997. Broadly, "low tax contributions" include all employer contributions, such as superannuation guarantee and salary sacrifice contributions, and personal contributions for which a deduction has been claimed.

[8] http://www.budget.gov.au/2016-17/content/glossies/tax_super/downloads/FS-Super/04-SFS-NClifetime_cap-161109.pdf.

[9] The excess transfer balance arises where the balance in the transfer balance account exceed the transfer balance cap (which in this case is $1.6m for the 2017/18 year). The ATO has recently issued new commutation guidelines which will allow SMSF members to place a commutation request to comply with the $1.6m balance cap without physically having to move excess amounts back to accumulation phase before July 1. See ATO PCG 2017/5 released April 27, 2017, at https://www.ato.gov.au/law/view/document?Mode=type&TOC=%2205%3AATO%20Guidelines%3ABy%20Type%3APractical%20Compliance%20Guidelines%3A2017%3A%230005%23PCG%202017%2F5%20%20Superannuation%20reform%26c%20commutation%20requests%20made%20before%201%20July%202017%20to%20avoid%20exceeding%20the%20$1.6%20million%20transfer%20balance%20cap%3B%22&DOCID=%22COG%2FPCG20175%2FNAT%2FATO%2F00001%22

[10] See http://www.budget.gov.au/2016-17/content/glossies/tax_super/downloads/FS-Super/02-SFS-Retirement_transfer_balance_cap-161209.pdf

[11] See SMSF Adviser, "Government releases draft legislation on LRBA changes", as viewed on April 27, 2017 at https://www.smsfadviser.com/news/15413-govt-releases-draft-legislation-on-lrba-changes. To avert potential for abuse, the draft legislation has proposed taking into account a member's outstanding LRBA balance in determining a member's superannuation balance. See, Treasury Laws Amendment (2017 Measures No. 2) Bill 2017: Limited Recourse Borrowing Arrangements – Exposure Draft Explanatory Materials at http://treasury.gov.au/~/media/Treasury/Consultations%20and%20Reviews/Consultations/2017/Integrity%20of%20limited%20recourse%20borrowing%20arrangements/Key%20Documents/PDF/Exposure_Draft_EM.ashx

[12] In light of recently proposed legislation to quash the use of LRBAs to circumvent contribution caps and transfer balance caps, we are not addressing the US tax impact of the use of LRBAs by US expats. We note however, that it would likely result in an adverse result.

[13] There are some provisions that enable superannuation can be accessed under preservation age on compassionate grounds or due to severe financial hardship.

[14] Under Australian tax laws, the contributor will receive a tax offset of 18 percent of the contribution amount subject to certain thresholds. See https://www.ato.gov.au/Individuals/Tax-return/2015/Supplementary-tax-return/Tax-offset-questions-T3-T9/T3-Superannuation-contributions-on-behalf-of-your-spouse/ (site visited February 2, 2017).

[15] At the GW-IRS International Tax Institute Luncheon held in Washington DC last December 14, 2016, IRS Commissioner Koskinen confirmed that the next area for IRS international tax enforcement efforts will be the Asian-Pacific region. See, Tax Analysts Exclusive: Conversations: Koskinen Looks to Future of Tax Administration, IRS Budget, TNT Doc 2016-24229 at pp.14-15.

Moodys Gartner Tax Law is only about tax. It is not an add-on service, it is our singular focus. Our Canadian and US lawyers and Chartered Accountants work together to develop effective tax strategies that get results, for individuals and corporate clients with interests in Canada, the US or both. Our strengths lie in Canadian and US cross-border tax advisory services, estateplanning, and tax litigation/dispute resolution. We identify areas of risk and opportunity, and create plans that yield the right balance of protection, optimization and compliance for each of our clients' special circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

Authors
Marsha-laine Dungog
Events from this Firm
29 Jul 2017, Seminar, Sydney, Australia

On Saturday, July 29, 2017, Moodys Gartner Tax Law will present a complimentary seminar on the main topics of interest in consideration of renouncing your US citizenship.

1 Aug 2017, Seminar, Brisbane, Australia

On Tuesday, August 1, 2017, Moodys Gartner Tax Law will present a complimentary seminar on the main topics of interest in consideration of renouncing your US citizenship.

5 Aug 2017, Seminar, Melbourne, Australia

On Saturday, August 5, 2017, Moodys Gartner Tax Law will present a complimentary seminar on the main topics of interest in consideration of renouncing your US citizenship.

 
In association with
Related Video
Up-coming Events Search
Tools
Print
Font Size:
Translation
Channels
Mondaq on Twitter
 
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
 
Email Address
Company Name
Password
Confirm Password
Position
Mondaq Topics -- Select your Interests
 Accounting
 Anti-trust
 Commercial
 Compliance
 Consumer
 Criminal
 Employment
 Energy
 Environment
 Family
 Finance
 Government
 Healthcare
 Immigration
 Insolvency
 Insurance
 International
 IP
 Law Performance
 Law Practice
 Litigation
 Media & IT
 Privacy
 Real Estate
 Strategy
 Tax
 Technology
 Transport
 Wealth Mgt
Regions
Africa
Asia
Asia Pacific
Australasia
Canada
Caribbean
Europe
European Union
Latin America
Middle East
U.K.
United States
Worldwide Updates
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement

Mondaq.com (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of www.mondaq.com

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these terms & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about Mondaq.com’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.

Disclaimer

Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.

Registration

Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to unsubscribe@mondaq.com with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.

Cookies

A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.

Links

This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.

Mail-A-Friend

If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.

Security

This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to webmaster@mondaq.com.

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to EditorialAdvisor@mondaq.com.

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at enquiries@mondaq.com.

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at problems@mondaq.com and we will use commercially reasonable efforts to determine and correct the problem promptly.