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Pension transfer limits reduced
We're off to Perth in June and transferring pension funds to Oz. I've just been called by my pension transfer advsors to tell me that the Australian government has announced that the maximum amount of pension fund that you can transfer into Oz is going to be reduced from the current $1m to $450k with effect from 1st July 2007. In return you won't be taxed on the resultant pension earnings.
So, if you are transferring your pension to Oz do it before 1st July. The good news is that the rule about having to work for a day in order to draw your pension has been dropped - in fact you don't now even have to be in the country! |
Re: Pension transfer limits reduced
Originally Posted by chris warren
(Post 4382213)
We're off to Perth in June and transferring pension funds to Oz. I've just been called by my pension transfer advsors to tell me that the Australian government has announced that the maximum amount of pension fund that you can transfer into Oz is going to be reduced from the current $1m to $450k with effect from 1st July 2007. In return you won't be taxed on the resultant pension earnings.
So, if you are transferring your pension to Oz do it before 1st July. The good news is that the rule about having to work for a day in order to draw your pension has been dropped - in fact you don't now even have to be in the country! |
Re: Pension transfer limits reduced
Originally Posted by chris warren
(Post 4382213)
We're off to Perth in June and transferring pension funds to Oz. I've just been called by my pension transfer advsors to tell me that the Australian government has announced that the maximum amount of pension fund that you can transfer into Oz is going to be reduced from the current $1m to $450k with effect from 1st July 2007. In return you won't be taxed on the resultant pension earnings.
So, if you are transferring your pension to Oz do it before 1st July. The good news is that the rule about having to work for a day in order to draw your pension has been dropped - in fact you don't now even have to be in the country! |
Re: Pension transfer limits reduced
Originally Posted by chris warren
(Post 4382213)
We're off to Perth in June and transferring pension funds to Oz. I've just been called by my pension transfer advsors to tell me that the Australian government has announced that the maximum amount of pension fund that you can transfer into Oz is going to be reduced from the current $1m to $450k with effect from 1st July 2007. In return you won't be taxed on the resultant pension earnings.
So, if you are transferring your pension to Oz do it before 1st July. The good news is that the rule about having to work for a day in order to draw your pension has been dropped - in fact you don't now even have to be in the country! |
Re: Pension transfer limits reduced
Originally Posted by FluffyTheCampfireSlayer
(Post 4382658)
Yeah, like we ALL have half a million dollar pensions sitting around!!!!! :unsure: :ohmy: :blink:
You mean you don't ???? ( I may be just a tad short of that myself .... ) :) |
Re: Pension transfer limits reduced
Anyone know what I can do about the $1.4m I will have to leave behind ? :huh:
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Re: Pension transfer limits reduced
Originally Posted by Bix
(Post 4384285)
Anyone know what I can do about the $1.4m I will have to leave behind ? :huh:
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Re: Pension transfer limits reduced
Originally Posted by MartinLuther
(Post 4384355)
Is that on top of $1 million? :blink:
But I don't know if the 1 mil is enough for us to be able to play. Can you buy extra Monopoly money in Aus ? |
Re: Pension transfer limits reduced
Originally Posted by Bix
(Post 4384363)
Yes it is.
But I don't know if the 1 mil is enough for us to be able to play. Can you buy extra Monopoly money in Aus ? |
Re: Pension transfer limits reduced
As per my article on Go Matilda News last September:
http://www.gomatilda.com/news/article.cfm?articleid=396 Best regards. |
Re: Pension transfer limits reduced
Originally Posted by chris warren
(Post 4382213)
We're off to Perth in June and transferring pension funds to Oz. I've just been called by my pension transfer advsors to tell me that the Australian government has announced that the maximum amount of pension fund that you can transfer into Oz is going to be reduced from the current $1m to $450k with effect from 1st July 2007. In return you won't be taxed on the resultant pension earnings.
So, if you are transferring your pension to Oz do it before 1st July. The good news is that the rule about having to work for a day in order to draw your pension has been dropped - in fact you don't now even have to be in the country! |
Re: Pension transfer limits reduced
Originally Posted by The Whitings
(Post 4385985)
Aaaghh! Who are you using as your pension transfer advisors? Both me and OH will have deferred pensions to transfer.
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