Karen33
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Hi,
I am over 55 years old and this year I withdrew my small uk pension pot of £17,000 and received most of my uk tax back.
As I understand it I can either declare the growth of the fund since moving to oz on my 2017 tax return - approx £7,000 and pay tax at my marginal rate of 32.5%
or I can make a contribution of the full amount of £17000 into my Australia super fund as a concessional contribution before 30 June and be taxed at 15%.
i am thinking about both options, has anyone dealt with before?
Kind regards, Karen
Uk Private pension
in Financial Advice: Ask Vista
Posted
Hi Andrew, thanks very much for your reply.
It is worrying that the ATO may treat 75% of my lump sum as income.
I can only hope that this does not happen to me.
Kind regards, Karen