lesleyB Posted January 9, 2019 Share Posted January 9, 2019 Just reading a few threads and wondering if I would end up paying oz tax on my UK tax free lump sum if I move back to oz next year? I'm a permanent resident thinking of returning after moving back to UK in 2015. Thanks for any advice. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted January 9, 2019 Share Posted January 9, 2019 Yes, it certainly could be. Pensions are a minefield. You will definitely need a financial adviser or accountant to advise you the best approach because it could be extremely expensive if you do the wrong thing! Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted January 10, 2019 Share Posted January 10, 2019 (edited) Hi Lesley When someone who is an Australian tax resident receives a foreign super lump sum then the calculation to arrive at the tax liability is typically based on the growth element (Applicable Fund Earnings) of that lump sum (relating of the periods of them being an Australian Resident). Here's an ATO link that gives a broad overview: https://www.ato.gov.au/Individuals/International-tax-for-individuals/In-detail/Super/Tax-treatment-of-transfers-from-foreign-super-funds/?anchor=Transferringamountstoyourself#Transferringamountstoyourself Regards Andy Edited January 10, 2019 by Andrew from Vista Financial Quote Link to comment Share on other sites More sharing options...
lesleyB Posted January 10, 2019 Author Share Posted January 10, 2019 Hi Andrew thanks for that. Quote Link to comment Share on other sites More sharing options...
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