Bobbyfaescotland

looks like I will be leaving it there until I am 67 then, hopefully then it will be all mine and not the tax mans

38 minutes ago, Alan Collett said:

Although it's a small amount it will be an annoyance and an aggravation if tax is deducted in the UK and you then have to seek a tax repayment from HMRC because the sum you receive from the UK scheme is properly solely taxable in Australia under the applicable provision of the Tax Treaty.

A lump sum that is received as a tax resident of Australia is taxed under the Applicable Fund Earnings provisions - so only the growth since you became a tax resident of Australia is taxable here.

Best regards.

Thanks Alan, does that mean that I can withdraw my £7500 from my Scottish Widows Pension fund and transfer it to my bank account in Australia, then declare it as an income on my tax return and pay my marginal tax rate.

I have been living in Australia for 13 years and have only recently found out that I have a small private pension that I must have had from a previous UK employer, I completely forgot about it. The fund is not much, its around £7500. I am just turning 57 in October and I believe I can get access to it but I also read somewhere that the UK government would pillage a large amount of it in tax, if I transfer it to my Australian bank account. I have no UK bank accounts as they were all closed when I emigrated.

Any advice would be greatly appreciated