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UK pension transfer

UK pension transfer

Old Jun 17th 2020, 7:41 am
  #16  
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Reasonable will become famous soon enoughReasonable will become famous soon enough
Default Re: UK pension transfer

Originally Posted by Perthscot View Post
your first sentence is correct. Your second sentence is not, you pay 15% tax to the ATO if you transfer. If your annual pension payment is less than 20k AUD then you do not pay any tax.
If you make the maximum non concessional transfer of $100k there is no ATO tax. And obviously if your UK taxable pension is below the Oz tax threshold there is no tax to pay.
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Old Jun 17th 2020, 9:24 am
  #17  
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Default Re: UK pension transfer

Originally Posted by Reasonable View Post
If you make the maximum non concessional transfer of $100k there is no ATO tax. And obviously if your UK taxable pension is below the Oz tax threshold there is no tax to pay.
I’m not sure we’re talking about the same subject? You said if you transfer 100k non concessional there is no ATO tax, it can only be non concessional if you have already paid tax to the ATO.
wee bit confused on what you’re trying to say.
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