Robert Gardiner
Joined: 9/16/2024
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RE: Taxation in UK of superannuation payments in Australia
The above request doesn’t clarify Australian rules regards taxation on Superannuation (pre pension phase). All contributions employee or employer are taxed at source annually, throughout the Superannuation/accumulation fund period. Also annual growth performance in the Superannuation Fund is subject to Taxation. Unlike UK where contributions throughout the accumulation period are tax exempt, and subsequent taxed as income in pension phase. The Double taxation Agreement in Article 17 creates a Double Tax issue on pre-taxed Australian Pension/Superannuation. How is this issue treated by HMRC.