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  • RE: UK Tax on Australian Superannuation

    So what if I switch from one fund manager to another? That same way the fund would be liquidated and reinvested but no cash benefit to me the same scenario
  • RE: UK Tax on Australian Superannuation

    I think you have misunderstood, it would merely be swapping the pension fund out of the managed fund and into property which would still be classed as pension in Australia. It would not be withdrawing the fund for personal use nor moving the proceeds to the uk
  • RE: UK Tax on Australian Superannuation

    A dual citizen of Australia and UK now resident in UK for tax purposes, my pension fund is in Australia with a fund manager, if I was to withdraw that fund and reinvest the proceeds in a rental property in Australia as a pension fund, would the encashment of the fund be treated as a taxable event in the UK ?
  • RE: UK Tax on Australian Superannuation

    Thank you for the reply , however Article 17 of the tax treaty is of no relevance, a withdrawal of a lump sum fro the pension fund would be purely that, a withdrawal, a non regular withdrawal of funds deposited from savings into the pension fund. From your earlier response it would appear that this is not subject to UK tax as it is merely a withdrawal of previously taxed contributions introduced to the account. Could you please give a definitive answer without reference to the articles as they generally do not cover the question asked or are too ambiguous .
  • RE: UK Tax on Australian Superannuation

    So are you saying that if you took any amount of lump sum from a super fund based in Australia say once a year , there would be no tax liability in the uk whether it was deposited In an Australian bank account or remitted to the uk, as long as it was not a regular , say monthly , withdrawal?
  • RE: UK Tax on Australian Superannuation

    I read somewhere that if money is withdrawn from an Australian pension fund as a lump sum by a dual citizen now resident in the uk and is placed in an Australian bank deposit account, that this is not taxable as it is considered as savings , is this correct?
  • RE: UK Tax on Australian Superannuation

    HMRC Admin 19 I am not asking for financial advice I am asking a question on a tax related matter solely
  • RE: UK Tax on Australian Superannuation

    https://community.hmrc.gov.uk/public/c0225cb5-410d-ea11-a811-000d3a7ed2f2/forum-posts In reply to admin 10 above , are you therefore saying if I was to withdraw the initial capital input into the pension fund , but leave any capital growth in the fund, there would be no tax payable on the original capital investment as long as id not touch any growth element
  • RE: UK Tax on Australian Superannuation

    I emigrated to Australia in 2006 but moved back to the uk in 2010. Whilst in Australia I paid several sums into a superfund from monies which had been accumulated from my uk savings which had previously been taxed under my general earned income. If I withdraw these monies now from my Australian pension fund , my understanding is that they would be classed as taxable income whereas I am only withdrawing money which I had saved whilst in the uk and had paid tax on from my income. Surely this is not right and is double taxing my income? If I had left the Money in the uk in a savings account anD had withdrawn it I would not have been taxed on it, similarly if I had just transferred it from the uk to an Australian bank savings account I would not be taxed on it so please explain why cashing in money in a superfund is any different
  • RE: UK Tax on Australian Superannuation

    So are you saying from the above that irregular withdrawals taken as lump sums from a Australian fund are not taxable in the uk?