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Edited version of your private ruling

Authorisation Number: 1012524959219

Ruling

Subject: Lodgment of Income Tax Returns

Income tax return lodgment

Question 1

Are you required to lodge an income tax return? You receive a small pension from the an overseas country and you believe as a result of this being classified as "overseas income" you are required to lodge an income tax return.

Answer

If your only income derived in the relevant income year is your Australian government pension and your overseas pension, and no tax was withheld from your income, then you are not required to lodge an income tax return, provided your total income does not exceed a certain threshold which are as follows;

This ruling applies for the following periods:

01/07/2012 to 30/06/2013

The scheme commences on:

01/07/2012

Relevant facts and circumstances

Relevant legislative provisions

Section 161 of the Income Tax Assessment Act 1936

Reasons for decision

Subsection 161(1) of the Income Tax Assessment Act 1936 (ITAA 1936) provides that;

The Gazette in which the notice is published has been replaced by a Legislative Instrument. The Legislative Instrument "Lodgment of returns for the year of income ended 30 June 2013 in accordance with the Income Tax Assessment Act 1936, the Income Tax Assessment Act 1997, the Taxation Administration Act 1953, the Superannuation Industry (Supervision) Act 1993 and the Income Tax (Transitional Provisions) Act 1997 (F2013L00925)" (Legislative Instrument) governs the lodgment of income tax returns for the 2013 income year.

The Legislative Instrument contains various tables and each table provides different types of income and whether a taxpayer is required to lodge an income tax return if he has derived that income.

Table A of the Legislative Instrument provides that if you have had tax withheld from most types of income you will be required to lodge an income tax return.

Your 20XX income tax return (last lodged income tax return) shows that you had $X withheld from an Australian annuity/superannuation income stream. If you are still in receipt of this income and are having tax withheld from it then you will be required to lodge an income tax return.

Table A of the Legislative Instrument also provides for other types of income that will require an income tax return to be lodged. Examples include; income from carrying on a business, partnership income, receiving an Australian superannuation lump sum that included an untaxed element and you are over 60 years of age.

If your only income is Australian government pension income (including Department of Veterans' Affairs pensions) and your foreign pension then Table M of the Legislative Instrument excludes you from the requirement to lodge an income tax return where in the relevant year your rebate income was less than or equal to the following amounts:

You would be required to lodge an income tax return if your overseas pension income was "exempt foreign employment income", that is, income gained from employment. Generally, pension income is not income from employment.


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