Hadrian

Everything was just working out fine for us and going to plan with our emigration to Oz until the UK tax office decided that all pension transfers to overseas super funds have to meet a certain set of requirements and become Qualified Registered Overseas Pension Schemes (QROPS).

Of course as usual with any government tax office they only posted the interim requirements in February and no overseas pension fund can register until after 6th April 2006.

So if I don't get my pension transfer completed by 5th April I will get clobbered with a 40% or more tax on my transfer amount which I personally would have to pay. Or I will just have to put the transfer on stop to see which Oz fund registers (if any) and then no doubt I will get caught up after 6 months with the ATO FIF rules.

Thank you Mr Brown.

Please note: this is not advice, I am only posting my own understanding of the new pension transfer rules as it affects me personally

Buzzy--Bee

Will you be PR or TR? If TR you might not have to move your pension dependent on the new Australian tax regulations for TR which may well become law in July.

Cheers

Buzzy

Hadrian

I am PR so definately does affect me.

Hadrian

Buzzy--Bee

Bummer

Can I suggest you keep an eye on this thread and the associated links?

http://britishexpats.com/forum/showthread.php?t=357263

Cheers

Buzzy