Mcg1203 Mcguirk
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RE: UK Tax on Australian Superannuation
Hello, my father (Australian citizen and tax resident) has recently passed away and has named me (UK/Aus dual citizen and UK tax resident) as sole beneficiary of his death benefit from his pension fund. I have struggled to find information on how this is taxable (ie in Australia only, UK only or both) as this is a sole lump sum benefit, and it not on my personal pension. Is this considered pension under Article 17 of the tax treaty, or is it different as it is a lump sum? Where is this taxable? Also, I have been advised by his pension fund that a chunk of this amount is set up to be tax-free in Australia. Does that also apply on any tax applicable in UK? Thanks