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Posted Thu, 31 Oct 2024 12:27:21 GMT by Jennifer Berryman
I have dual nationality UK/Australia and been resident in the UK for tax purposes since 1991. I haven't worked in Australia since 1990 but have a preserved superannuation fund there which will pay out the total amount as a lump sum "deferred retirement benefit" - i.e. there will be no regular pension income - when I am 60. Would this be categorised as a tax-exempt lump sum? Or would this need to be reported in a tax return as foreign income? I've been confused by the many threads regarding lump sum payments from Australian pensions but thought my circumstances might be specific enough to ask my own question. Thanks in advance.
Posted Wed, 06 Nov 2024 10:04:52 GMT by HMRC Admin 19 Response
Hi,
Under Article 17 of the double taxation treaty, the income is taxable in the UK.
2003 Australia-UK Double Taxation Convention - in force
Thank you.

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