Bobbsy Posted April 7, 2017 Share Posted April 7, 2017 I am 64 years old and have lived in Australia on a PR visas for about ten years. My sole income if from a company pension paid in the UK but transferred monthly to my Australian bank account. The amounr varies with exchange rates but is currently around $50,000 per year. I was told some time ago that over 60s on an private pension under $70,000 you do not have to pay tax. However, lately, things I've read imply that this only apples to pensions paid in Australia and my UK pension might be taxable. Anybody know the details of this? FYI, transferring the pension fund to Australia is not an option--as I say, it's a company pension and the total sum is shared by all elliible employees on a "final salary" basis. Bob Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted April 7, 2017 Share Posted April 7, 2017 10 hours ago, Bobbsy said: I am 64 years old and have lived in Australia on a PR visas for about ten years. My sole income if from a company pension paid in the UK but transferred monthly to my Australian bank account. The amounr varies with exchange rates but is currently around $50,000 per year. I was told some time ago that over 60s on an private pension under $70,000 you do not have to pay tax. However, lately, things I've read imply that this only apples to pensions paid in Australia and my UK pension might be taxable. Anybody know the details of this? FYI, transferring the pension fund to Australia is not an option--as I say, it's a company pension and the total sum is shared by all elliible employees on a "final salary" basis. Bob Hello Bob. From what you have said it seems your UK pension income has not been properly taxed in Australia - and quite probably not in the UK either. The Tax Treaty between the UK and Australia is relevant: ARTICLE 17 Pensions and annuities 1 Pensions (including government pensions) and annuities paid to a resident of a Contracting State shall be taxable only in that State. Action to resolve this should be taken by you, in my opinion. Best regards. Quote Link to comment Share on other sites More sharing options...
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