Guest Cookie Posted December 22, 2005 Share Posted December 22, 2005 Hi there, we have just transfered some money via HIFX into our Oz account and are unclear what we can do about a naval graturity of £45k due in June 06 with regards weather we will be taxed on it. This is a tax free lump sum paid on retirement from the Royal Navy. We are moving over in March so will already be in country when graturity is due. Any help appreciated. Cookie Link to comment Share on other sites More sharing options...
Martin Ness Posted May 14, 2006 Share Posted May 14, 2006 Hi Cookie, I'm in the same boat but start in Dec 06. I have heard I can transfer my pension, do you know of this option or have a point of contact? Regards, Martin Ness Link to comment Share on other sites More sharing options...
Guest spray21 Posted May 14, 2006 Share Posted May 14, 2006 I'm far from an expert but my best guess would be that it will count as income and thus be liable for tax. Are you joining Australian Defence Forces? Link to comment Share on other sites More sharing options...
Guest ABCDiamond Posted May 15, 2006 Share Posted May 15, 2006 I have heard something about this before, but am not 100% sure how it works. If the figure, and the entitlement, is confirmed prior to the date you leave, I feel that it should be considered to be your asset at the time, and hence not taxable. Also consider the ATO position on UK Service related pensions: Some foreign pensions or annuities will be exempt income in Australia and will not need to be included on your tax return.Foreign pensions or annuities that are exempt income in Australia include: * certain service-related UK pensions. Source Link to comment Share on other sites More sharing options...
Guest Littlenick Posted May 15, 2006 Share Posted May 15, 2006 Hi all Just reading your posts and was wondering whether either of you was joining the Australian Defence only my hubby is due out the Navy Feb 07 and he has sent all the paper work off to oz navy. We really want to move to oz but after speaking to an agent, we were told we couldn't start applying until seven months before his due out date because he was in the forces. Does anyone know if this is correct only we were hoping to move as soon as he comes out. The Australian Navy is another way of getting over there but I don't fancy the months apart again. Will be interesting to see what you find out about the lump sum, pension and if you have to pay tax on it as well. Take care Nicky 8) Link to comment Share on other sites More sharing options...
Guest spray21 Posted May 16, 2006 Share Posted May 16, 2006 Other half is joining aussie army. We applied to them before he had said anything to his boss here and waited until it was all confirmed before resigning. It's not the navy so their system could be different but I'd contact them directly if I were you - you may not need an agent at all. Link to comment Share on other sites More sharing options...
Guest Littlenick Posted May 16, 2006 Share Posted May 16, 2006 Hi Spray21 Thanks for your reply. I hope you don't mind me asking but how long did it take the army to sort things out for you? The Navy is probably different but they received all the paperwork March 17 and we're still waiting to hear something. They say no news is good news but I'm driving hubby mad asking if he's checked emails!!! What part of oz are you heading to? Sorry once again for the questions All the best Link to comment Share on other sites More sharing options...
Guest spray21 Posted May 17, 2006 Share Posted May 17, 2006 It's infuriating isn't it?! Boyf keeps threatening to go on his own and leave me in England if i keep pestering him! He sent off his letter and CV in the autumn (2005), got a letter back saying it looks promising please fill out a proper form. So he did, and they then invited us for an interview in London in March '06. They made a formal verbal offer on the day and we got a paper offer in the post a month later. That's when boyf handed in his notice - and I just resigned my position this morning! V excited. We won't actually go anywhere until Easter 2007, so I suppose the whole process covers about a year and a half? But I think the army only comes over to interview once a year, so I suppose it all hangs around that really. They certainly didn't mind that boyf hadn't resigned - in fact they recommended to not whisper a word until it was all finalised with them. We'll be going to NSW initially, just outside Sydney. After that. who knows! Hope that is of some help! Let me know if I can tell you anything else. Good luck! Link to comment Share on other sites More sharing options...
Guest basiltherat Posted May 17, 2006 Share Posted May 17, 2006 Hi Martin I left RN with pension 5 years ago. Hoping to move across to Brisbane in Sept/ Oct. I have contacted Paymaster who administer pensions. They have told me that once I have an Australian bank account let them know (Glasgow office for RN) and they will pay pension into that account. I am still looking into tax implications because the Australian Tax Office with want tax on this income as I will be resident in Aus. I am checking if I will still pay tax in the UK and then need to claim it back. Hopefully not. Steve Link to comment Share on other sites More sharing options...
Guest ABCDiamond Posted May 17, 2006 Share Posted May 17, 2006 I am still looking into tax implications because the Australian Tax Office with want tax on this income as I will be resident in Aus. I am checking if I will still pay tax in the UK and then need to claim it back. Hopefully not. Steve As soon as you become Non UK Resident, you may be able apply to have any income paid tax free in the UK. This saves any claiming back later. However, check this UK link for Double Taxation policies that may apply: http://www.hmrc.gov.uk/cnr/app_dtt.htm If you are a resident of a country with which the UK has a double taxation treaty, you may be able to claim exemption or partial relief from UK tax on certain types of income from UK sources. The precise conditions of exemption or relief can be found in the text of the relevant treaty. Link to comment Share on other sites More sharing options...
Guest Wannabeanaussie Posted July 7, 2006 Share Posted July 7, 2006 We are looking at migrating next year. Hubby left RAF in April on redundancy and is receiving pension so interesting to know about the tax. Link to comment Share on other sites More sharing options...
Guest thistles and gum trees Posted November 13, 2006 Share Posted November 13, 2006 We are looking at migrating next year. Hubby left RAF in April on redundancy and is receiving pension so interesting to know about the tax. Hi, Also from Scotland, but a little further up the A9! Are you planning to go civie or are you going with the RAAF? My hubbie is in the RAF until next October and after a recent interview with the ADF we have been offered a post with the RAAF at East Sale, VIC. Do you have children and have you looked into schooling yet? Need all the info we can get!! Thanks...... Link to comment Share on other sites More sharing options...
Guest Tori71 Posted October 31, 2011 Share Posted October 31, 2011 Hi, I know this is an old thread, but I really need some advice regarding taxation. My husband has just been made redundent from the RAF. We are due to fly to Australia in January, however his last working day in the RAF is the 29/02/12 we are leaving early as he has various leave owed to him; so he will still be paid for January and February. Around March time he is due his redundancy/graturity payment which is a tax free payment in the UK. Will this be taxable in Australia as we will be resident when it is paid even though it relates to a contract in place before we leave the UK. So do we need to postpone our flights or will we be ok??? Thank you to anyone who can shed so light on this. Many thanks, Tori. Link to comment Share on other sites More sharing options...
Guest gavnicjacflo Posted October 31, 2011 Share Posted October 31, 2011 Hi all Just reading your posts and was wondering whether either of you was joining the Australian Defence only my hubby is due out the Navy Feb 07 and he has sent all the paper work off to oz navy. We really want to move to oz but after speaking to an agent, we were told we couldn't start applying until seven months before his due out date because he was in the forces. Does anyone know if this is correct only we were hoping to move as soon as he comes out. The Australian Navy is another way of getting over there but I don't fancy the months apart again. Will be interesting to see what you find out about the lump sum, pension and if you have to pay tax on it as well. Take care Nicky 8) I am looking to join the RAN in March 12 and started in Aug 10 its 12-18 months process and the good thing for me there submarine service do a lot less sea time than the RN gavnicjacflo Link to comment Share on other sites More sharing options...
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