Dogmarsh

Hi everyone, I am looking for some advice. I am a 72 year-old UK expat and Australian citizen living in Sydney. My income derives from a) my UK company pension, b) my UK state pension (both paid in sterling to my UK bank), and c) my Super/pension in Australia.

My wealth is predominantly in my Australian Super/Pension fund (approx 95%), which survives my death, and the remainder which is in my UK bank account and UK Premium Bonds. My UK pensions die with me.

I pay tax on all my income, including my UK pensions, in Australia.

I have 1 daughter (46) who lives in Devon, UK.

After small bequests to my 5 step grandsons, I would like to leave the remainder to my daughter.

My questions are:

A) How do I set this up in the most tax-efficient manner?

B) Is there anyone reading this who has a similar experience and has taken action to make it work? Can you recommend anyone for professional advice?

C) Are there any tax experts reading this who have expertise in the UK/Australian tax regimes and how they impact each other?

Thanks for reading this far.

Pollyana

Alan Collet from Go Matilda is highly recommended, he is well versed in taxation matters in both countries.
https://www.gomatilda.com/

Dogmarsh

Thanks Pollyana. I have sent Go Matilda an enquiry and will see what happens next. Thanks for your help.

spouse of scouse

Can't help with your questions, but just in case you haven't done this already - you can add a beneficiary's name to your superannuation/pension fund, although this is apparently not binding unless you also include this clause in your Will.

Dogmarsh

Thanks for emphasising this. In fact I already have my daughter as my beneficiary of the super fund, and I am planning to include it in my will.

Cheers.