Military Pension Tax - How Much!!!
#16
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,912
Re: Military Pension Tax - How Much!!!
Thanks for the reponses guys.
More detail:
a.UK pension (Approx UKP9000) declared in Oz from day 1 - Nov 04
b.UK tax paid in UK on pension.
c.Credit for tax paid in UK included in Oz return.
d.Oz Army wages taxed at source = Tax refund after expenses.
e.UK rental small loss.
f.Oz tax @ 42% on pension - not 43.5% as stated by accountant
I haven't received the paperwork yet, just a phonecall from a nervous accountant!! Hoping to find an error in his calculations.
Cheers
Colin
More detail:
a.UK pension (Approx UKP9000) declared in Oz from day 1 - Nov 04
b.UK tax paid in UK on pension.
c.Credit for tax paid in UK included in Oz return.
d.Oz Army wages taxed at source = Tax refund after expenses.
e.UK rental small loss.
f.Oz tax @ 42% on pension - not 43.5% as stated by accountant
I haven't received the paperwork yet, just a phonecall from a nervous accountant!! Hoping to find an error in his calculations.
Cheers
Colin
#18
Forum Regular
Joined: Apr 2007
Location: Toowoomba, Queensland
Posts: 136
Re: Military Pension Tax - How Much!!!
Hi Gary,
Would probably be a good idea to look at salary packaging - I think in the ADF you'll be able to package a car and maybe additional super contributions? I think the ADF use Smart Salary http://www.smartsalary.com.au/
Definitely worth a look if you're in the higher income bracket.
Would probably be a good idea to look at salary packaging - I think in the ADF you'll be able to package a car and maybe additional super contributions? I think the ADF use Smart Salary http://www.smartsalary.com.au/
Definitely worth a look if you're in the higher income bracket.