British Expats - British Armed Forces Pension and ATO

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Kaat	Aug 1st 2018 4:02 am

British Armed Forces Pension and ATO

Hi, Can anyone confirm that I have to pay tax on my British Armed Forces lump sum in Australia? Lots of conflicting information. Thanks

EssexOMG

Aug 1st 2018 11:01 pm

Re: British Armed Forces Pension and ATO

As long as the money from your lump sum is transferred over within 6 months of arriving in Australia it's not taxed. Your monthly military pension will be taxed and you will need to declare it when you come to do your tax return.

Kaat	Aug 1st 2018 11:20 pm

Re: British Armed Forces Pension and ATO

Quote:

Originally Posted by EssexOMG (Post 12542012)

Thanks for the reply, Essex. I have been here 29 years so I will be paying tax on my lump sum, I will just have to suck it up!

Alan Collett

Aug 2nd 2018 10:44 pm

Re: British Armed Forces Pension and ATO

Quote:

Originally Posted by Kaat (Post 12542018)

Thanks for the reply, Essex. I have been here 29 years so I will be paying tax on my lump sum, I will just have to suck it up!

Tax is "only" payable on the growth in the value of the fund from the time you became a tax resident of Australia - see discussions on applicable fund earnings, or AFEs.

Best regards.

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