| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1051794987548
Date of advice: 14 January 2021
Ruling
Subject: Pension income
Question
Are your Country Z Pensions taxable in Australia?
Answer
No.
Based on the information provided to the Commissioner your Country Z pensions are not taxable in Australia.
The Double Tax Agreement between Australia and the Country Z gives the taxing rights to both pensions to Country Z.
Therefore, the pensions are not taxable under section 6-5 of the Income Tax assessment Act 1997 (ITAA 1997).
This ruling applies for the following periods:
Year ended 30 June 2019
Year ended 30 June 2020
Year ending 30 June 2021
Year ending 30 June 2022
Year ending 30 June 2023
Year ending 30 June 2024
The scheme commences on:
1 July 2018
Relevant facts and circumstances
You are a resident of Australia for taxation purposes.
You have been a resident of Australia since 20XX.
You are a citizen of both Australia and Country Z.
You are in receipt of Country Z pensions.
You declare your pensions in your Country Z tax return.
You have previously declared these pensions in your Australian tax returns.
Relevant legislative provisions
Income Tax assessment Act 1997 section 6-5
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
