British Expats - Pension Advice

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LUNANBAY

May 16th 2008 7:40 am

Pension Advice

Hi
Am leaving Uk Armed Forces, I will have a pension (monthly) and a lump sum. How will i be able to manage this in Oz? Can I have monthly pension paid into Oz account?

Thanks in advance for any help

Big Bear

Wol	May 16th 2008 11:21 am

Re: Pension Advice

I have my pension paid into OzForex's Barclays account and they transfer it in $$ to my Australian bank account.

LUNANBAY

May 16th 2008 11:32 am

Re: Pension Advice

OK

do you then get taxed on it?

Wol	May 16th 2008 11:35 am

Re: Pension Advice

Obviously not in the UK. It forms my Australian income and is taxed here.

LUNANBAY

May 16th 2008 11:40 am

Re: Pension Advice

Ok , the only reason I ask is that I will be medically discharged, where my pension is tax free! It looks like I will have to look into a bit more then

Cheers

Wol	May 16th 2008 11:29 pm

Re: Pension Advice

Quote:

Originally Posted by LUNANBAY (Post 6358076)

Ok , the only reason I ask is that I will be medically discharged, where my pension is tax free! It looks like I will have to look into a bit more then

Cheers

Whatever the tax regime of an income is in the UK has no relationship to its regime in Oz.

If it is income it will be taxed here unless you can find some reciprocal or local agreement.

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