Marisawright Posted February 8, 2015 Share Posted February 8, 2015 I reckon this ought to be where my tax file number comes in handy. Am hoping that I can simply ask ATO "Can you please supply a listing of all tax returns I have filed since I started work ?" will let you know how I go. Good luck with that - I will be surprised if you get them! Interesting about the residency requirements for applying in the future, my wife and my parents both succesfully applied for and received UK pensions whilst living in Australia. You can claim your UK pension whilst living in Australia (unlike vice versa). However, the special provision for claiming your Australian years of work does not apply. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted February 8, 2015 Share Posted February 8, 2015 Hey Grey Sky, Any complications caused by your wife living in UK whilst having money in a super fund in Australia - did the UK govt want a bite out of the earnings as tax ? Bill No. It isnt taxable in the UK. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted February 8, 2015 Share Posted February 8, 2015 That's correct. You can claim your Australian years towards your UK pension IF you're resident in the UK. If you're resident abroad, you can't. Thanks. I will tell her. Tbh dredging up all the evidence would have been tricky anyway. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted February 8, 2015 Share Posted February 8, 2015 Hey Grey Sky, Any complications caused by your wife living in UK whilst having money in a super fund in Australia - did the UK govt want a bite out of the earnings as tax ? Whilst the money is in the super fund, no income is being received, therefore there is nothing to declare on the UK tax return and no tax to pay. When money is withdrawn, it will be a different story. If she had a self-managed super fund, on the other hand, the Australian government would take a big bit out of the earnings as tax - 46% (a good illustration that it's the country where the income is earned that is the biggest concern). Quote Link to comment Share on other sites More sharing options...
fizzybangs Posted February 14, 2015 Share Posted February 14, 2015 We claimed our UK pension from Oz when 60. The UK overseas dept in Newcastle phoned us up to adk us if we wanted to buy more credits which we did. We later phoned them up and bought more credits. Quote Link to comment Share on other sites More sharing options...
BacktoDemocracy Posted February 16, 2015 Share Posted February 16, 2015 Hmmmm...agree I will have to check this. Looks like getting some advice from a UK/Oz tax specialist is the way to go. I am going to fly down to Brisbane next week to open a bank account with HSBC, so I will see if I can get some advice while I'm in the big smoke. Does anyone know how to claim NI contributions using the reciprocal agreement with Oz and UK prior to 2001? I have searched the Internet but cannot find exactly how to do this. I have tax returns for many of those years, but not all of them. Has anyone gone through this process and can give me some advice? Without wanting to suggest tax limitation moves but I would open an offshore bank account, I did with Lloyds , Isle of Man, they are much more used to handling inter country transfers than the high street banks who tend to investigate large transfers from offshore quite rigorously. It is not as difficult as you might think and so long as you keep a base amount with them its free, just be a little pragmatic when you open the account. Quote Link to comment Share on other sites More sharing options...
BillW Posted February 17, 2015 Share Posted February 17, 2015 Without wanting to suggest tax limitation moves but I would open an offshore bank account, I did with Lloyds , Isle of Man, they are much more used to handling inter country transfers than the high street banks who tend to investigate large transfers from offshore quite rigorously.It is not as difficult as you might think and so long as you keep a base amount with them its free, just be a little pragmatic when you open the account. I can second that. We easily opened an account with Lloyds in Jersey at a time when high street banks refused to let us open a new joint account or have me a co-signatory on my wifes existing account because we were not resident in UK. My wife had an account with bank of scotland who recommended Loyds after informing us that they could accept me as a co-signature on the original account. Bill Fill out a few forms and post them, thats it, done. Bill Quote Link to comment Share on other sites More sharing options...
Marisawright Posted February 17, 2015 Share Posted February 17, 2015 Without wanting to suggest tax limitation moves but I would open an offshore bank account, I did with Lloyds , Isle of Man, they are much more used to handling inter country transfers than the high street banks who tend to investigate large transfers from offshore quite rigorously.It is not as difficult as you might think and so long as you keep a base amount with them its free, just be a little pragmatic when you open the account. What do you mean by "pragmatic"? I had an account in the Isle of Man at one point, when I was living in Africa. Once the funds ran dry I closed it. I looked into opening another one, but was told it's illegal for an Australian resident to do so. Maybe I got bad advice? Quote Link to comment Share on other sites More sharing options...
BacktoDemocracy Posted February 17, 2015 Share Posted February 17, 2015 What do you mean by "pragmatic"? I had an account in the Isle of Man at one point, when I was living in Africa. Once the funds ran dry I closed it. I looked into opening another one, but was told it's illegal for an Australian resident to do so. Maybe I got bad advice? I just meant that some of the questions require answers about the need for such an account and all you need to say is that it is to receive moneys from earnings in different countries, There is nothing illegal about having an offshore account so long as all monies and earnings are declared. The taxman doesn't like them but their are lots of things they don't like. I have learnt not to close bank accounts, they are always useful. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.