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Forum: Australia
Aug 14th 2020, 1:06 pm
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

if you had expressed it that way in your previous post, that may have come across better. Not really looking for entertainment, just advice. Anyway agree with your overall sentiment.
Forum: Australia
Aug 14th 2020, 12:59 pm
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

Alan, I think I might have confused myself! Pension provider said nothing yet. Am I correct in saying I won’t pay any Uk tax on the 25% initial lump sum but ATO declaration and add to any income. For...
Forum: Australia
Aug 14th 2020, 6:09 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

thanks Alan, perhaps you can help, can you advise how I prevent HMRC from taking tax from the 25% lump sum to allow me to declare it to the ATO and pay the tax here . I have a form here but would...
Forum: Australia
Aug 14th 2020, 2:54 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

you may not be sure Alan but I am, I have had lengthy discussions with four different “experts” and the costs range from 27% to 30%. I am aware of the small tax implications I shall incur.
Forum: Australia
Aug 14th 2020, 2:44 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

I am well aware of that, that’s the bet you make. Lose some of it if you die or half of it if your spouse lives on. Alternatively give away 30% over five years to an advisor and the ATO and hope you...
Forum: Australia
Aug 14th 2020, 2:31 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

Thanks for your reply, I have spoken to a few “financial advisors” and have decided to leave my DB pension in the UK, take 25% initially and monthly payments for the rest of my life. In my situation...
Forum: Australia
Jun 19th 2020, 5:48 am
Replies: 9
Views: 1,007
Posted By Perthscot

Re: Open UK bank account from OZ

thanks, it may be worth exploring but I think it might be obvious if I asked them the question
Forum: Australia
Jun 19th 2020, 5:01 am
Replies: 9
Views: 1,007
Posted By Perthscot

Re: Open UK bank account from OZ

looking at the possibility of satisfying a UK SIPP that I have a UK bank account, reckon this would do the trick?
Forum: Australia
Jun 18th 2020, 4:46 am
Replies: 9
Views: 1,007
Posted By Perthscot

Re: Open UK bank account from OZ

I want to open one while remaining to live in Australia, hsbc needs minimum 50k. Balance
Forum: Australia
Jun 17th 2020, 9:27 am
Replies: 9
Views: 1,007
Posted By Perthscot

Open UK bank account from OZ

Can I open a UK bank account from Australia if I don’t have a UK address and withdraw from the account into Australian bank?
Forum: Australia
Jun 17th 2020, 9:24 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

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...
Forum: Australia
Jun 17th 2020, 2:28 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

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.
Forum: Australia
Jun 16th 2020, 7:09 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

could you explain what you mean?
Forum: Australia
Jun 16th 2020, 6:09 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

I too have decided to leave mine over there, not worth the costs involved.
Forum: Australia
Jun 15th 2020, 9:08 am
Replies: 27
Views: 3,473
Posted By Perthscot

Re: Cost of Living in Perth, WA

I’m a mechanical engineer, wife a nurse. Settled quite quickly but you’ve got to tell yourselves to give it two years even if you don’t like it straight away.
Forum: Australia
Jun 12th 2020, 2:11 pm
Replies: 27
Views: 3,473
Posted By Perthscot

Re: Cost of Living in Perth, WA

You will be better off than living in Glasgow, was there 30 years ago, why isn’t you’re relative giving you the situation here? My advice, go for it but don’t buy straight away, you can rent a nice...
Forum: Australia
Jun 8th 2020, 3:03 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

Thanks Alan.....has anyone else actually used professional services to transfer
Forum: Australia
Jun 8th 2020, 2:40 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

Hi Alan,
im aware of the tax saving available but I’m also aware of the initial and ongoing costs to achieve this tax saving. I have already spoken to one of your colleagues.
Im specifically...
Forum: Australia
Jun 7th 2020, 9:26 am
Replies: 44
Views: 8,742
Posted By Perthscot

Re: UK pension transfer

Yea it all seems a bit costly to transfer, anyone got any recommendations?
Forum: Australia
Jun 7th 2020, 8:17 am
Replies: 3
Views: 933
Posted By Perthscot

Re: Working from home - Tax deductions for costs

Thanks mate, interesting reading
Forum: Australia
Jun 7th 2020, 8:15 am
Replies: 27
Views: 3,473
Posted By Perthscot

Re: Cost of Living in Perth, WA

The cost of living is higher but so are the salaries. I reckon you’ll be better off here.
Forum: Australia
Jun 7th 2020, 7:33 am
Replies: 44
Views: 8,742
Posted By Perthscot

UK pension transfer

I’m considering transferring my UK company defined benefit pension to Australia. I think I know the processes and options. Been talking to a couple of financial advisors but they want a lot of money...
Showing results 1 to 22 of 22


 
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