British Invasion

Old Sep 27th 2016, 5:08 pm
  #46  
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Default Re: British Invasion

Originally Posted by inkedneonurse
How easy was it to transfer your military pension?
Argh, I said I didn't. If you write to Equiniti Paymaster (or whatevever they are called this week) with your NZ bank sort codes they will start paying it here. This is assuming it is a military pension you are already drawing.
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Old Sep 27th 2016, 8:47 pm
  #47  
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Default Re: British Invasion

How easy was it to transfer your military pension?
They were called something else when I moved here 5 years ago. Communication usually needs to be through writing, they don't like emails. Have been getting my pension and war disablement pension paid here every month ever since. Once a year I get a news letter and informed about any increased amounts.
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Old Sep 27th 2016, 8:54 pm
  #48  
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Default Re: British Invasion

Originally Posted by Mark Smith
They were called something else when I moved here 5 years ago. Communication usually needs to be through writing, they don't like emails. Have been getting my pension and war disablement pension paid here every month ever since. Once a year I get a news letter and informed about any increased amounts.
Is your WDP service attributable as in you don't pay tax on it in the U.K....do you pay tax on it in NZ?
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Old Sep 27th 2016, 9:59 pm
  #49  
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Honestly... I have no idea, my tax advisor does all my returns, when I give him a big pile of my statements and other business stuff. I just pay the bills, should probably check in to that.
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Old Sep 27th 2016, 11:48 pm
  #50  
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Default Re: British Invasion

Originally Posted by inkedneonurse
Is your WDP service attributable as in you don't pay tax on it in the U.K....do you pay tax on it in NZ?
I believe this to be free of taxation. Please do check on this .
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Old Sep 28th 2016, 5:17 am
  #51  
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Default Re: British Invasion

Originally Posted by BEVS
I believe this to be free of taxation. Please do check on this .
I have a 20% UK WDP for hearing loss (means I can't hear anything about cucumber prices). This is non taxable in UK.

On first arrival in NZ in 2005, NZ IRD confirmed (in writing) that this was not NZ taxable.
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Old Sep 28th 2016, 5:19 am
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Default Re: British Invasion

Originally Posted by Kotare
(means I can't hear anything about cucumber prices).

TOMATOES
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Old Sep 28th 2016, 5:38 am
  #53  
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Default Re: British Invasion

Originally Posted by BEVS

TOMATOES
Apparently shouting doesn't help if you have hearing loss tomatoes of course as a deeply PC contributor I am really offended at you slagging off my disability - my solicitors would call (but I am poor as well)

Last edited by Kotare; Sep 28th 2016 at 5:41 am.
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Old Sep 28th 2016, 5:45 am
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Originally Posted by Kotare
Apparently shouting doesn't help if you have hearing loss tomatoes of course as a deeply PC contributor I am really offended at you slagging off my disability - my solicitors would call (but I am poor as well)
What's that y'say?

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Old Sep 28th 2016, 6:54 am
  #55  
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Default Re: British Invasion

Originally Posted by BEVS
I believe this to be free of taxation. Please do check on this .
This whole pension thing is quite confusing. We each have a UK state pension and my husband has a UK military pension and a private pension. All of them are paid into a uk bank account, which means we are at the mercy of the fluctuating exchange rate because it's what we live on. After the 4 years tax holiday we elected to pay tax in NZ on our UK income. In hindsight perhaps it was a bad choice but we're not sure how to go about switching or even whether it's possible or beneficial. We obviously need to seriously look into it.
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Old Sep 28th 2016, 7:27 am
  #56  
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Originally Posted by jayandbill
This whole pension thing is quite confusing. We each have a UK state pension and my husband has a UK military pension and a private pension. All of them are paid into a uk bank account, which means we are at the mercy of the fluctuating exchange rate because it's what we live on. After the 4 years tax holiday we elected to pay tax in NZ on our UK income. In hindsight perhaps it was a bad choice but we're not sure how to go about switching or even whether it's possible or beneficial. We obviously need to seriously look into it.
What is confusing you?

If you wish you can switch your UK state pension to NZ superannuation. This will give you a higher rate and you get it tax prepaid into your Nz account.

Your military pension can be paid to your nz account by uk (uk tax unpaid) at the going rate (normally quite good). This has to be declared to the NZ taxman.

Private uk pension - depends who it is with whether it can be paid direct to nz, but must be declared to NZ taxman. As an example my wife has a smallish uk teachers pension (uk tax unpaid) which we leave in the uk for high days and holidays (but it is declared to the nz taxman).

You imply you have a choice of tax residency, not true, you are nz resident and must declare evetything here (though they will credit you with any uk tax paid).

The last two are at the mercy of exchange rate changes, just like me - sob - but I heard a rumour tomato/cucumber prices are down :-)
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Old Sep 28th 2016, 9:09 am
  #57  
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Default Re: British Invasion

Originally Posted by Kotare
What is confusing you?

If you wish you can switch your UK state pension to NZ superannuation. This will give you a higher rate and you get it tax prepaid into your Nz account.

Your military pension can be paid to your nz account by uk (uk tax unpaid) at the going rate (normally quite good). This has to be declared to the NZ taxman.

Private uk pension - depends who it is with whether it can be paid direct to nz, but must be declared to NZ taxman. As an example my wife has a smallish uk teachers pension (uk tax unpaid) which we leave in the uk for high days and holidays (but it is declared to the nz taxman).

You imply you have a choice of tax residency, not true, you are nz resident and must declare evetything here (though they will credit you with any uk tax paid).

The last two are at the mercy of exchange rate changes, just like me - sob - but I heard a rumour tomato/cucumber prices are down :-)
Thanks for that, I'm sure we can come to a more beneficial arrangement, just need to give it some consideration. We do declare every last dime to the tax man. I wish the same could be said of the top echelons of society.
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Old Sep 28th 2016, 9:12 am
  #58  
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Default Re: British Invasion

Originally Posted by BEVS
I believe this to be free of taxation. Please do check on this .
We pay tax on all of our pensions. I'll look into it.
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Old Sep 28th 2016, 9:21 am
  #59  
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Default Re: British Invasion

Originally Posted by jayandbill
We pay tax on all of our pensions. I'll look into it.
Bevs is talking strictly about Disability pensions which are tax free (in my case anyway) other pensions are not.
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Old Sep 28th 2016, 9:27 am
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Default Re: British Invasion

Originally Posted by Kotare
Bevs is talking strictly about Disability pensions which are tax free (in my case anyway) other pensions are not.
I figured that might be the case. But if we were getting a tax free allowance of the eqivilant of GBP 10,500 a year it would help.
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