wozzie2202

Tax agent advice - someone with knowledge of UK Forces pensions

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    Just starting to look in to tax returns etc and wondered whether anyone on here can recommend an agent who has some knowledge of UK armed forces pensions as my other half is currently in receipt of his pension which is paid (and taxed) from the UK. Wanted to look at our options in terms of where best to get it taxed as I know there is a reciprocal agreement in place.

     

    Many thanks in advance.

     

    Sarah

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    You don't have a choice about where it gets taxed. If it is paid in the UK the UK will take any tax due first. You then declare the income on your Australian tax return along with the amount of tax already paid on it. The ATO will take in to account the tax already paid when working out any tax due here. I can't recommend a tax agent though as I do ours myself.

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    Hello Sarah

     

    Try Alan Collett at GM Tax he will be able to assist.

     

    My understanding is that typically where UK pension income is received by Australian tax residents the agreement is that Australia have full taxing rights if the whole of the income is remitted to Australia. Therefore the pension can be paid gross from the UK and declared in Australia but there is a process to follow for this to occur.

     

    Regards

     

    Andy

    Edited by Andrew from Vista Financial

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    Hello Sarah

     

    Try Alan Collett at GM Tax he will be able to assist.

     

    My understanding is that typically where UK pension income is received by Australian tax residents the agreement is that Australia have full taxing rights if the whole of the income is remitted to Australia. Therefore the pension can be paid gross from the UK and declared in Australia but there is a process to follow for this to occur.

     

    Regards

     

    Andy

     

     

    Thanks Andy

     

    That's my understanding too, particularly with Forces pensions that you can ask that they be paid in to an Australian bank account gross and taxed here rather than taxed at source in the UK. Will try Alan,

     

    thanks again

     

    Sarah

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