Voluntary NI contributions and tax deductions
#1
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Voluntary NI contributions and tax deductions
Hi
I'm just in the middle of paying my UK Class 3 National Insurance contributions to get another three years counted toward my UK basic state pension. I'm Aussie domiciled. Just wondered whether such contributions can be counted as a tax deduction on my aussie tax return? Does any know?
Neil
I'm just in the middle of paying my UK Class 3 National Insurance contributions to get another three years counted toward my UK basic state pension. I'm Aussie domiciled. Just wondered whether such contributions can be counted as a tax deduction on my aussie tax return? Does any know?
Neil
#2
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Re: Voluntary NI contributions and tax deductions
I'm just in the middle of paying my UK Class 3 National Insurance contributions to get another three years counted toward my UK basic state pension. I'm Aussie domiciled. Just wondered whether such contributions can be counted as a tax deduction on my aussie tax return? Does any know?
#3
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Re: Voluntary NI contributions and tax deductions
Thanks for that. Knew it was a long shot!
#4
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Re: Voluntary NI contributions and tax deductions
Do you work? If so, you may be able to pay (cheaper) Class 2 contributions instead of Class 3. See this booklet, page 9.
#5
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Re: Voluntary NI contributions and tax deductions
Does anyone know what is the maxium amount of years you can pay, if you are living overseas.
Ie if you had paid 15 years can you backpay the other 15 years in case you go back to UK.
Ie if you had paid 15 years can you backpay the other 15 years in case you go back to UK.
#6
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Re: Voluntary NI contributions and tax deductions
Usually you can backdate 6 years (see page 12 of the booklet), but the idea is that you pay as you go, not in arrears.
Unlike the Australian state pension, you still get the pension if you qualify, even if not in the UK, although it is frozen at the amount to which you are entitled when it starts.
Unlike the Australian state pension, you still get the pension if you qualify, even if not in the UK, although it is frozen at the amount to which you are entitled when it starts.
#7
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Joined: Apr 2004
Posts: 10,375
Re: Voluntary NI contributions and tax deductions
Usually you can backdate 6 years (see page 12 of the booklet), but the idea is that you pay as you go, not in arrears.
Unlike the Australian state pension, you still get the pension if you qualify, even if not in the UK, although it is frozen at the amount to which you are entitled when it starts.
Unlike the Australian state pension, you still get the pension if you qualify, even if not in the UK, although it is frozen at the amount to which you are entitled when it starts.
#8
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Re: Voluntary NI contributions and tax deductions
There's doubtless a more precise definition on the website of the UK Department of Work and Pensions which you might wish to read, but hopefully what I wrote above will get you in the ballpark.
Neil