Oz tax on lump sum payments
Jul 25th 2003, 6:14 am
#1
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Joined: Jul 2003
Location: Manly West, east of Brisbane
Posts: 236
Oz tax on lump sum payments
Grateful for any advice on the Oz tax implications on lump sum payments from previous employment. I am moving to Brisbane as a Skilled Independent Migrant around the middle of November.
I currently work for the military and will receive a lump sum payment in February 2004 after working with them for 23 years. This lump sum payment is tax free in the UK, according to UK tax laws. I am unsure if this lump sum payment will be deemed as income and liable to tax, at 47%, in Oz. I have written to the ATO but do not expect to hear from them for a couple of weeks.
Please reply if you have specific knowledge or experience of a similar nature.
Steve
I currently work for the military and will receive a lump sum payment in February 2004 after working with them for 23 years. This lump sum payment is tax free in the UK, according to UK tax laws. I am unsure if this lump sum payment will be deemed as income and liable to tax, at 47%, in Oz. I have written to the ATO but do not expect to hear from them for a couple of weeks.
Please reply if you have specific knowledge or experience of a similar nature.
Steve
Jul 25th 2003, 11:19 am
#2
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Posts: n/a
Re: Oz tax on lump sum payments
Originally posted by cookies
Grateful for any advice on the Oz tax implications on lump sum payments from previous employment. I am moving to Brisbane as a Skilled Independent Migrant around the middle of November.
I currently work for the military and will receive a lump sum payment in February 2004 after working with them for 23 years. This lump sum payment is tax free in the UK, according to UK tax laws. I am unsure if this lump sum payment will be deemed as income and liable to tax, at 47%, in Oz. I have written to the ATO but do not expect to hear from them for a couple of weeks.
Please reply if you have specific knowledge or experience of a similar nature.
Steve
Grateful for any advice on the Oz tax implications on lump sum payments from previous employment. I am moving to Brisbane as a Skilled Independent Migrant around the middle of November.
I currently work for the military and will receive a lump sum payment in February 2004 after working with them for 23 years. This lump sum payment is tax free in the UK, according to UK tax laws. I am unsure if this lump sum payment will be deemed as income and liable to tax, at 47%, in Oz. I have written to the ATO but do not expect to hear from them for a couple of weeks.
Please reply if you have specific knowledge or experience of a similar nature.
Steve
