blondie Posted July 16, 2008 Share Posted July 16, 2008 Hi We have a bit of a dilemma here. OH has a Royal Navy Pension which is paid into UK account and taxed at 20%. Oz taxman also wants his piece of pie, an additional 20%. I feel that it's just not right that a pension should be so heavily taxed. Do any of you clever people know of a loophole/avoidance that is legal. Thanks in advance Blondie Link to comment Share on other sites More sharing options...
Guest Pinhead Posted July 16, 2008 Share Posted July 16, 2008 You apply for double taxation relief so that you only pay tax at Oz rate less the amount paid in the UK. Alternatively you could try to get your pension paid gross into your UK account as you are no longer a taxable resident. You would still need to declare the income on your Oz tax return though. All tax avoidance is legal otherwise it would be tax evasion which is not. Link to comment Share on other sites More sharing options...
Guest sidders67 Posted July 16, 2008 Share Posted July 16, 2008 Hi Blondie, I'm in the same boat as your OH. Hoping to get to Nowra in September if our visas arrive! At the moment I'm gonna keep my RN pension in a UK account and draw it when i need it from a ATM.(Nationwide Flex Account doesn't charge for withdrawls overseas). If anyone has a better idea please share. thanks Sidders Link to comment Share on other sites More sharing options...
blondie Posted July 17, 2008 Author Share Posted July 17, 2008 Hey, that's exactly what we are doing with the Flexaccount. Did you know that a Nationwide Credit Card also does not charge for using overseas, we always use ours when abroad on holiday. No real solution yet to this problem, either way we end up paying 40% tax. Whereabouts in Somerset are you, we lived in Cheddar for a while and have relatives in Street and Glastonbury. Blondie Link to comment Share on other sites More sharing options...
Guest sidders67 Posted July 17, 2008 Share Posted July 17, 2008 Will do some more research this end to try and solve this. Gonna lose enough on exchange rate at present so need all i can get. We live in Ilchester, just outside Yeovil. I'm just about to leave the RN after 22 yrs and have decided to join the RAN. Less time away and a better life for us as a family. Fantastic. cant wait for the vasas. If all goes to plan we will be in Oz on the 11th Sept. Link to comment Share on other sites More sharing options...
blondie Posted July 19, 2008 Author Share Posted July 19, 2008 Hey what a coincidence, my OH also left RN after 30 years and has joined RAN, based in Sydney. You will get here on our anniversary of arriving, well practically. If you have any questions or probs then PM me and we will pass on everything we have learnt so far. Blondie Link to comment Share on other sites More sharing options...
Guest nicolasteve Posted July 19, 2008 Share Posted July 19, 2008 Hi, My OH was in the Royal Navy and we left Ilchester in Feb to come over here to Brisbane. He used to be based at Yeovilton. He gets a pension and we just get it paid into our UK account and will carry on doing that until we decide what we deffinatley doing. People who my OH know have done the same and left pension in UK until such a time they know they will be deffinatley staying in Oz. Link to comment Share on other sites More sharing options...
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